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Hansung Enterprise Q1 profit falls YOY

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Hansung Enterprise Q1 profit falls YOY

Hansung Enterprise Co. Ltd. said its first-quarter normalized net income came to 166.45 South Korean won per share, a decline from 168.74 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 847.0 million won, a decline from 859.5 million won in the prior-year period.

The normalized profit margin dropped to 0.7% from 1.3% in the year-earlier period.

Total revenue increased on an annual basis to 66.10 billion won from 65.19 billion won, and total operating expenses totaled 63.56 billion won, compared with 64.02 billion won in the prior-year period.

Reported net income increased 50.9% year over year to 1.76 billion won, or 344.98 won per share, from 1.16 billion won, or 228.40 won per share.

As of May 15, US$1 was equivalent to 1,083.65 South Korean won.