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Hyundai Home Shopping Network H1 profit falls YOY

Hyundai Home Shopping Network Corp. said its first-half normalized net income was 3,739.78 South Korean won per share, a decrease of 28.5% from 5,229.08 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 44.29 billion won, a decline of 29.4% from 62.75 billion won in the year-earlier period.

Total revenue rose year over year to 427.46 billion won from 414.59 billion won, and total operating expenses rose 10.6% from the prior-year period to 374.07 billion won from 338.26 billion won.

Reported net income declined 30.1% from the prior-year period to 54.46 billion won, or 4,597.89 won per share, from 77.87 billion won, or 6,488.93 won per share.

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