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Hankook Furniture Q1 profit climbs 9.6% YOY

Hankook Furniture Co. Ltd. said its first-quarter normalized net income was 706.29 South Korean won per share, a gain of 9.6% from 644.40 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 1.06 billion won, a gain of 9.6% from 967.0 million won in the year-earlier period.

The normalized profit margin rose to 9.0% from 8.8% in the year-earlier period.

Total revenue climbed 7.1% on an annual basis to 11.73 billion won from 10.95 billion won, and total operating expenses grew 8.6% from the prior-year period to 10.28 billion won from 9.47 billion won.

Reported net income rose 21.9% year over year to 1.51 billion won, or 1,008.64 won per share, from 1.24 billion won, or 826.99 won per share.

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