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Youngone Holdings Q1 profit falls YOY

Youngone Holdings Co. Ltd. said its normalized net income for the first quarter was 942.74 South Korean won per share, a decline from 966.61 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 10.94 billion won, a decline from 11.22 billion won in the prior-year period.

The normalized profit margin dropped to 3.6% from 3.8% in the year-earlier period.

Total revenue grew on an annual basis to 301.29 billion won from 293.68 billion won, and total operating expenses rose from the prior-year period to 256.92 billion won from 249.38 billion won.

Reported net income grew 8.3% on an annual basis to 18.87 billion won, or 1,625.91 won per share, from 17.42 billion won, or 1,501.01 won per share.

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