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Hanwha Galleria Timeworld Q1 profit falls YOY

Hanwha Galleria Timeworld Co. Ltd. said its normalized net income for the first quarter came to 957.13 South Korean won per share, a decline of 10.5% from 1,069.15 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 5.65 billion won, a decline of 9.4% from 6.23 billion won in the prior-year period.

The normalized profit margin declined to 13.4% from 19.2% in the year-earlier period.

Total revenue climbed 29.6% on an annual basis to 41.98 billion won from 32.39 billion won, and total operating expenses climbed 51.1% year over year to 35.88 billion won from 23.75 billion won.

Reported net income fell 5.4% on an annual basis to 7.23 billion won, or 1,226.17 won per share, from 7.65 billion won, or 1,312.00 won per share.

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