LVMC Holdings said its first-quarter normalized net income came to 142.80 South Korean won per share, an increase of 16.1% from 123.03 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 6.79 billion won, an increase of 15.2% from 5.89 billion won in the year-earlier period.

The normalized profit margin fell to 5.7% from 6.3% in the year-earlier period.

Total revenue increased 28.2% on an annual basis to 118.96 billion won from 92.82 billion won, and total operating expenses increased 28.7% year over year to 107.49 billion won from 83.50 billion won.

Reported net income increased from the prior-year period to 20.39 billion won, or 429.00 won per share, from 9.42 billion won, or 196.81 won per share.

As of May 29, US$1 was equivalent to 1,113.21 South Korean won.