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Youngone Holdings Q2 profit falls YOY

Youngone Holdings Co. Ltd. said its normalized net income for the second quarter was 818.64 South Korean won per share, a decline of 25.4% from 1,098.04 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 9.50 billion won, a decline of 25.4% from 12.74 billion won in the year-earlier period.

The normalized profit margin declined to 1.8% from 2.9% in the year-earlier period.

Total revenue grew 17.2% on an annual basis to 523.62 billion won from 446.73 billion won, and total operating expenses grew 16.6% year over year to 458.90 billion won from 393.65 billion won.

Reported net income rose 6.1% year over year to 19.01 billion won, or 1,638.40 won per share, from 17.93 billion won, or 1,545.06 won per share.

As of Aug. 17, US$1 was equivalent to 1,183.06 South Korean won.