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SY Corp. Q4 profit climbs 19.3% YOY

SY Corp. Co., Ltd. said its fourth-quarter normalized net income was 189.93 South Korean won per share, an increase of 36.8% from 138.85 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 7.12 billion won, an increase of 19.3% from 5.97 billion won in the year-earlier period.

The normalized profit margin rose to 22.0% from 21.5% in the year-earlier period.

Total revenue grew 16.2% year over year to 32.34 billion won from 27.83 billion won, and total operating expenses climbed 13.5% year over year to 21.25 billion won from 18.72 billion won.

Reported net income grew 9.9% year over year to 8.74 billion won, or 232.90 won per share, from 7.95 billion won, or 184.83 won per share.

For the year, the company's normalized net income totaled 1,057.51 won per share, a gain of 28.2% from 825.11 won per share in the prior year.

Normalized net income was 10.58 billion won, a gain of 11.5% from 9.49 billion won in the prior year.

Full-year total revenue grew 11.0% year over year to 57.22 billion won from 51.55 billion won, and total operating expenses rose 7.8% year over year to 39.62 billion won from 36.74 billion won.

The company said reported net income rose on an annual basis to 13.10 billion won, or 1,309.00 won per share, in the full year, from 12.49 billion won, or 1,086.00 won per share.

As of March 3, US$1 was equivalent to 1,211.12 South Korean won.