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Hankook Cosmetics Manufacturing Q3 profit falls YOY

Hankook Cosmetics Manufacturing Co. Ltd. said its normalized net income for the third quarter amounted to 172.92 South Korean won per share, a decrease of 90.9% from 1,890.00 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 626.8 million won, a decline of 90.9% from 6.85 billion won in the prior-year period.

The normalized profit margin fell to 5.5% from 79.0% in the year-earlier period.

Total revenue rose 30.7% year over year to 11.33 billion won from 8.67 billion won, and total operating expenses rose 20.3% from the prior-year period to 9.69 billion won from 8.06 billion won.

Reported net income declined 94.7% on an annual basis to 580.9 million won, or 160.25 won per share, from 10.96 billion won, or 3,024.00 won per share.

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