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NamYang Dairy Products Q3 profit climbs YOY

NamYang Dairy Products Co. Ltd. said its normalized net income for the third quarter came to 6,543.57 South Korean won per share, an increase from 23.92 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 4.45 billion won, a gain from 20.4 million won in the prior-year period.

The normalized profit margin increased to 1.4% from 0.0% in the year-earlier period.

Total revenue increased 7.3% year over year to 309.10 billion won from 288.08 billion won, and total operating expenses increased 5.2% year over year to 304.07 billion won from 289.12 billion won.

Reported net income grew on an annual basis to 2.41 billion won, or 3,543.10 won per share, from 289.2 million won, or 339.00 won per share.

As of Nov. 16, US$1 was equivalent to 1,172.80 South Korean won.