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Sangsin Brake Q3 profit climbs 67.8% YOY

Sangsin Brake Co. Ltd. said its normalized net income for the third quarter was 266.01 South Korean won per share, a gain of 68.2% from 158.14 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 5.15 billion won, a gain of 67.8% from 3.07 billion won in the prior-year period.

The normalized profit margin increased to 5.6% from 3.7% in the year-earlier period.

Total revenue rose 11.0% on an annual basis to 91.37 billion won from 82.29 billion won, and total operating expenses rose 6.8% year over year to 83.15 billion won from 77.89 billion won.

Reported net income rose 60.2% year over year to 5.53 billion won, or 285.85 won per share, from 3.45 billion won, or 178.00 won per share.

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