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SKbioland Q1 profit falls YOY

SKbioland Co. Ltd. said its normalized net income for the first quarter came to 172.25 South Korean won per share, a decrease of 25.3% from 230.47 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 2.58 billion won, a decrease of 25.1% from 3.45 billion won in the prior-year period.

The normalized profit margin declined to 11.7% from 16.7% in the year-earlier period.

Total revenue increased year over year to 21.54 billion won from 20.72 billion won, and total operating expenses climbed on an annual basis to 17.02 billion won from 16.67 billion won.

Reported net income decreased 8.1% from the prior-year period to 3.26 billion won, or 217.48 won per share, from 3.55 billion won, or 237.13 won per share.

As of May 14, US$1 was equivalent to 1,090.69 South Korean won.