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Kodaco Q3 profit climbs 86.1% YOY

Kodaco Co. Ltd. said its third-quarter normalized net income was 29.97 South Korean won per share, an increase of 79.6% from 16.68 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 885.4 million won, a gain of 86.1% from 475.7 million won in the prior-year period.

The normalized profit margin climbed to 1.4% from 0.8% in the year-earlier period.

Total revenue increased 8.4% on an annual basis to 65.06 billion won from 60.02 billion won, and total operating expenses rose 7.8% on an annual basis to 60.86 billion won from 56.48 billion won.

Reported net income rose 23.9% on an annual basis to 953.9 million won, or 32.29 won per share, from 769.8 million won, or 27.00 won per share.

As of Nov. 16, US$1 was equivalent to 1,172.80 South Korean won.