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Shinsegae Q1 profit climbs 15.3% YOY

Shinsegae Inc. said its normalized net income for the first quarter came to 4,077.61 South Korean won per share, compared with the S&P Capital IQ consensus estimate of 4,137.22 won per share.

EPS climbed 15.3% year over year from 3,536.83 won.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 40.11 billion won, a gain of 15.3% from 34.79 billion won in the year-earlier period.

The normalized profit margin increased to 6.4% from 5.7% in the year-earlier period.

Total revenue climbed on an annual basis to 630.67 billion won from 608.78 billion won, and total operating expenses rose on an annual basis to 559.39 billion won from 539.27 billion won.

Reported net income grew 13.7% year over year to 45.83 billion won, or 4,659.61 won per share, from 40.30 billion won, or 4,096.96 won per share.

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