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Samkee Automotive Q3 profit climbs 28.9% YOY

Samkee Automotive Co. Ltd. said its normalized net income for the third quarter came to 86.67 South Korean won per share, a decline of 35.5% from 134.30 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 2.67 billion won, an increase of 28.9% from 2.07 billion won in the year-earlier period.

The normalized profit margin increased to 4.1% from 3.7% in the year-earlier period.

Total revenue climbed 15.7% year over year to 65.07 billion won from 56.23 billion won, and total operating expenses climbed 14.9% on an annual basis to 59.91 billion won from 52.15 billion won.

Reported net income increased 60.1% from the prior-year period to 4.40 billion won, or 142.63 won per share, from 2.75 billion won, or 178.00 won per share.

As of Nov. 12, US$1 was equivalent to 1,159.89 South Korean won.