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Taeyang Metal Industrial Q2 profit climbs YOY

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Taeyang Metal Industrial Q2 profit climbs YOY

Taeyang Metal Industrial Co. Ltd. said its normalized net income for the second quarter came to 63.18 South Korean won per share, a gain from 12.08 won per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 2.25 billion won, a gain from 429.8 million won in the year-earlier period.

The normalized profit margin climbed to 1.8% from 0.4% in the year-earlier period.

Total revenue totaled 122.49 billion won, compared with 122.76 billion won in the prior-year period, and total operating expenses increased from the prior-year period to 119.07 billion won from 117.50 billion won.

Reported net income increased from the prior-year period to 2.78 billion won, or 78.14 won per share, from 720.0 million won, or 20.23 won per share.

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