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Namyeung Vivien Q2 profit climbs 71.2% YOY

Namyeung Vivien Corp. said its normalized net income for the second quarter came to 2,220.73 South Korean won per share, an increase of 70.1% from 1,305.31 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 14.39 billion won, an increase of 71.2% from 8.40 billion won in the prior-year period.

The normalized profit margin rose to 25.2% from 13.5% in the year-earlier period.

Total revenue declined 8.0% year over year to 57.09 billion won from 62.04 billion won, and total operating expenses decreased 13.0% year over year to 56.43 billion won from 64.88 billion won.

Reported net income grew 69.0% from the prior-year period to 17.85 billion won, or 2,755.04 won per share, from 10.56 billion won, or 1,641.17 won per share.

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