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Able C&C swings to profit in Q2

Able C&C Co. Ltd. said its second-quarter normalized net income amounted to 266.85 South Korean won per share, compared with a loss of 66.58 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 4.44 billion won, compared with a loss of 1.02 billion won in the prior-year period.

The normalized profit margin rose to 4.1% from negative 1.0% in the year-earlier period.

Total revenue grew on an annual basis to 110.10 billion won from 105.99 billion won, and total operating expenses declined on an annual basis to 103.61 billion won from 108.39 billion won.

Reported net income totaled 5.55 billion won, or 333.45 won per share, compared to a loss of 1.72 billion won, or a loss of 112.97 won per share, in the year-earlier period.

As of Aug. 17, US$1 was equivalent to 1,183.06 South Korean won.