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Boryung Medience Q1 profit climbs 25.2% YOY

Boryung Medience Co. Ltd. said its first-quarter normalized net income came to 87.75 South Korean won per share, a gain of 24.5% from 70.50 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 1.03 billion won, a gain of 25.2% from 827.0 million won in the year-earlier period.

The normalized profit margin increased to 3.1% from 2.2% in the year-earlier period.

Total revenue declined 9.5% on an annual basis to 33.92 billion won from 37.49 billion won, and total operating expenses fell 10.6% on an annual basis to 32.47 billion won from 36.34 billion won.

Reported net income rose 11.7% year over year to 1.25 billion won, or 105.57 won per share, from 1.11 billion won, or 95.00 won per share.

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