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Ecoplastic Q2 profit climbs 11.6% YOY

Ecoplastic Corp. said its normalized net income for the second quarter amounted to 117.62 South Korean won per share, an increase of 11.2% from 105.74 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 2.94 billion won, an increase of 11.6% from 2.64 billion won in the year-earlier period.

The normalized profit margin fell to 0.7% from 1.0% in the year-earlier period.

Total revenue increased year over year to 282.58 billion won from 275.00 billion won, and total operating expenses grew on an annual basis to 277.40 billion won from 268.56 billion won.

Reported net income declined 52.6% on an annual basis to 2.13 billion won, or 85.00 won per share, from 4.49 billion won, or 179.99 won per share.

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