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Korea Fuel-Tech Corp. Q2 profit climbs 29.1% YOY

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Korea Fuel-Tech Corp. Q2 profit climbs 29.1% YOY

Korea Fuel-Tech Corp. said its second-quarter normalized net income came to 131.81 South Korean won per share, a gain of 25.6% from 104.97 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 3.67 billion won, an increase of 29.1% from 2.84 billion won in the year-earlier period.

The normalized profit margin rose to 4.9% from 4.0% in the year-earlier period.

Total revenue increased year over year to 73.09 billion won from 71.53 billion won, and total operating expenses climbed 7.9% on an annual basis to 69.92 billion won from 64.81 billion won.

Reported net income increased 30.0% on an annual basis to 4.79 billion won, or 171.95 won per share, from 3.68 billion won, or 136.03 won per share.

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