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Dae Won San Up Q2 profit falls YOY

Dae Won San Up Co. Ltd. said its second-quarter normalized net income amounted to 221.23 South Korean won per share, a decline of 42.9% from 387.48 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 4.43 billion won, a decrease of 30.1% from 6.34 billion won in the prior-year period.

Total revenue climbed 19.3% on an annual basis to 197.53 billion won from 165.54 billion won, and total operating expenses climbed 21.0% from the prior-year period to 193.14 billion won from 159.66 billion won.

Reported net income decreased 29.8% on an annual basis to 5.44 billion won, or 271.63 won per share, from 7.75 billion won, or 473.82 won per share.

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