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F&F Co. Q4 profit climbs 44.4% YOY

F&F Co. Ltd. said its normalized net income for the fourth quarter amounted to 456.23 South Korean won per share, an increase of 44.9% from 314.88 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 7.03 billion won, a gain of 44.4% from 4.87 billion won in the year-earlier period.

The normalized profit margin climbed to 5.0% from 4.4% in the year-earlier period.

Total revenue climbed 27.6% year over year to 141.84 billion won from 111.17 billion won, and total operating expenses climbed 26.4% from the prior-year period to 131.03 billion won from 103.68 billion won.

Reported net income declined 27.7% on an annual basis to 7.95 billion won, or 516.38 won per share, from 11.00 billion won, or 711.50 won per share.

For the year, the company's normalized net income totaled 727.69 won per share, a gain of 51.2% from 481.39 won per share in the prior year.

Normalized net income was 11.21 billion won, a rise of 51.2% from 7.41 billion won in the prior year.

Full-year total revenue grew 22.8% year over year to 370.01 billion won from 301.41 billion won, and total operating expenses rose 21.4% year over year to 351.25 billion won from 289.35 billion won.

The company said reported net income declined 11.0% year over year to 12.44 billion won, or 807.82 won per share, in the full year, from 13.98 billion won, or 908.00 won per share.

As of Feb. 29, US$1 was equivalent to 1,241.88 South Korean won.