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Sajodaerim Q2 profit falls YOY

Sajodaerim Corp. said its second-quarter normalized net income was 171.75 South Korean won per share, a decrease of 28.7% from 241.04 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 868.3 million won, a decline of 39.7% from 1.44 billion won in the prior-year period.

The normalized profit margin fell to 0.6% from 1.1% in the year-earlier period.

Total revenue rose year over year to 134.96 billion won from 129.51 billion won, and total operating expenses increased 5.9% year over year to 133.39 billion won from 125.93 billion won.

Reported net income fell 58.3% on an annual basis to 743.1 million won, or 147.00 won per share, from 1.78 billion won, or 297.87 won per share.

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