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SG Choongbang Q4 loss narrows YOY

SG Choongbang Co. Ltd. said its fourth-quarter normalized net income amounted to a loss of 35.36 South Korean won per share, compared with a loss of 61.11 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 a loss of 1.48 billion won, compared with a loss of 2.39 billion won in the prior-year period.

The normalized profit margin increased to negative 4.4% from negative 8.4% in the year-earlier period.

Total revenue climbed 18.5% on an annual basis to 33.92 billion won from 28.62 billion won, and total operating expenses rose 11.7% from the prior-year period to 35.44 billion won from 31.72 billion won.

Reported net income came to a loss of 1.32 billion won, or a loss of 31.57 won per share, compared to a loss of 4.14 billion won, or a loss of 105.62 won per share, in the year-earlier period.

For the year, the company's normalized net income totaled a loss of 104.20 won per share, compared with a loss of 24.77 won per share in the prior year.

Normalized net income was a loss of 4.35 billion won, compared with a loss of 1.02 billion won in the prior year.

Full-year total revenue declined 7.1% from the prior-year period to 112.36 billion won from 120.98 billion won, and total operating expenses declined year over year to 117.02 billion won from 121.51 billion won.

The company said reported net income totaled a loss of 6.84 billion won, or a loss of 163.74 won per share, in the full year, compared with a loss of 1.49 billion won, or a loss of 36.00 won per share, the prior year.

As of March 3, US$1 was equivalent to 1,211.12 South Korean won.