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Foodwell Q3 profit climbs 14.6% YOY

Foodwell Corp. said its third-quarter normalized net income came to 45.96 South Korean won per share, an increase of 14.3% from 40.21 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 367.7 million won, an increase of 14.6% from 320.7 million won in the prior-year period.

The normalized profit margin rose to 1.4% from 1.3% in the year-earlier period.

Total revenue grew 6.8% year over year to 26.01 billion won from 24.35 billion won, and total operating expenses climbed 7.6% on an annual basis to 24.95 billion won from 23.19 billion won.

Reported net income grew on an annual basis to 615.6 million won, or 76.95 won per share, from 590.3 million won, or 74.00 won per share.

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