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Daegu Department Store profit holds mostly steady YOY in fiscal Q2

Daegu Department Store Co. Ltd. said its normalized net income for the fiscal second quarter ended Sept. 30 came to a loss of 82.46 South Korean won per share, compared with a loss of 74.70 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 a loss of 671.7 million won, compared with a loss of 670.7 million won in the year-earlier period.

The normalized profit margin declined to negative 2.0% from negative 1.7% in the year-earlier period.

Total revenue decreased on an annual basis to 38.82 billion won from 40.63 billion won, and total operating expenses rose 5.5% on an annual basis to 40.64 billion won from 38.51 billion won.

Reported net income came to a loss of 581.9 million won, or a loss of 71.44 won per share, compared to income of 377.1 million won, or 42.00 won per share, in the year-earlier period.

As of Nov. 26, US$1 was equivalent to 1,105.18 South Korean won.