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LF Corp. Q1 profit falls YOY

LF Corp. said its normalized net income for the first quarter came to 431.52 South Korean won per share, a decrease of 5.9% from 458.68 won per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 12.62 billion won, a decrease of 6.0% from 13.42 billion won in the prior-year period.

The normalized profit margin declined to 3.4% from 3.7% in the year-earlier period.

Total revenue grew year over year to 378.90 billion won from 361.74 billion won, and total operating expenses rose 5.8% year over year to 363.11 billion won from 343.14 billion won.

Reported net income increased from the prior-year period to 14.81 billion won, or 506.46 won per share, from 14.66 billion won, or 501.06 won per share.

As of May 15, US$1 was equivalent to 1,083.65 South Korean won.