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Ace Bed Q2 profit climbs 46.2% YOY

Ace Bed Co. Ltd. said its normalized net income for the second quarter was 3,095.96 South Korean won per share, a gain of 46.2% from 2,118.15 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 5.93 billion won, a gain of 46.2% from 4.05 billion won in the prior-year period.

The normalized profit margin increased to 12.9% from 9.8% in the year-earlier period.

Total revenue rose 11.2% on an annual basis to 45.97 billion won from 41.35 billion won, and total operating expenses rose year over year to 37.77 billion won from 37.07 billion won.

Reported net income increased 67.2% year over year to 7.24 billion won, or 3,781.64 won per share, from 4.33 billion won, or 2,262.81 won per share.

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