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Boryung Medience Q3 profit climbs 29.8% YOY

Boryung Medience Co. Ltd. said its third-quarter normalized net income was 116.42 South Korean won per share, a gain of 29.4% from 89.95 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 1.37 billion won, a gain of 29.8% from 1.06 billion won in the prior-year period.

The normalized profit margin rose to 4.1% from 2.8% in the year-earlier period.

Total revenue fell 11.3% year over year to 33.32 billion won from 37.58 billion won, and total operating expenses decreased 13.2% year over year to 31.30 billion won from 36.07 billion won.

Reported net income rose 22.9% on an annual basis to 1.76 billion won, or 148.98 won per share, from 1.43 billion won, or 121.55 won per share.

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