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BAIKSAN Q2 profit climbs YOY

BAIKSAN Co. Ltd. said its second-quarter normalized net income was 337.49 South Korean won per share, an increase from 36.33 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 8.17 billion won, an increase from 882.2 million won in the prior-year period.

The normalized profit margin increased to 21.7% from 2.0% in the year-earlier period.

Total revenue declined 14.9% year over year to 37.60 billion won from 44.21 billion won, and total operating expenses fell 13.7% year over year to 35.56 billion won from 41.20 billion won.

Reported net income grew from the prior-year period to 9.05 billion won, or 373.78 won per share, from 995.6 million won, or 41.00 won per share.

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