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Sonokong Q1 profit climbs YOY

Sonokong Co. Ltd. said its normalized net income for the first quarter was 30.38 South Korean won per share, an increase from 13.96 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 662.2 million won, an increase from 292.7 million won in the year-earlier period.

The normalized profit margin increased to 3.9% from 1.7% in the year-earlier period.

Total revenue climbed on an annual basis to 17.10 billion won from 16.92 billion won, and total operating expenses decreased year over year to 15.79 billion won from 16.24 billion won.

Reported net income rose on an annual basis to 1.06 billion won, or 48.49 won per share, from 482.1 million won, or 22.99 won per share.

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