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Hyundai Engineering Plastics Q1 profit climbs 40.8% YOY

Hyundai Engineering Plastics Co. Ltd. said its normalized net income for the first quarter was 245.30 South Korean won per share, an increase of 40.8% from 174.16 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 7.83 billion won, a gain of 40.8% from 5.56 billion won in the prior-year period.

The normalized profit margin climbed to 3.7% from 2.4% in the year-earlier period.

Total revenue decreased 8.5% year over year to 208.69 billion won from 227.99 billion won, and total operating expenses fell 10.9% on an annual basis to 194.58 billion won from 218.38 billion won.

Reported net income increased 38.7% from the prior-year period to 9.60 billion won, or 301.10 won per share, from 6.92 billion won, or 216.98 won per share.

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