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CJ O Shopping Q1 profit falls YOY

CJ O Shopping Co. Ltd. said its normalized net income for the first quarter came to 4,242.70 South Korean won per share, a decrease of 56.3% from 9,714.98 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 25.57 billion won, a decline of 12.6% from 29.27 billion won in the prior-year period.

The normalized profit margin fell to 4.4% from 4.5% in the year-earlier period.

Total revenue fell 10.9% year over year to 579.08 billion won from 650.27 billion won, and total operating expenses fell 11.7% from the prior-year period to 516.69 billion won from 585.23 billion won.

Reported net income decreased 20.7% from the prior-year period to 27.89 billion won, or 4,628.00 won per share, from 35.19 billion won, or 11,678.20 won per share.

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