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Pungkang Co. fiscal Q1 profit falls YOY

Pungkang Co. Ltd. said its normalized net income for the fiscal first quarter ended Nov. 30, 2014, amounted to 45.07 South Korean won per share, a decline of 45.9% from 83.23 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 432.1 million won, a decrease of 45.9% from 798.6 million won in the year-earlier period.

The normalized profit margin fell to 2.1% from 3.6% in the year-earlier period.

Total revenue decreased 4.9% year over year to 21.00 billion won from 22.08 billion won, and total operating expenses fell on an annual basis to 20.72 billion won from 21.24 billion won.

Reported net income fell 29.8% year over year to 849.0 million won, or 88.55 won per share, from 1.21 billion won, or 126.02 won per share.

As of Jan. 28, US$1 was equivalent to 1,084.56 South Korean won.