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Samyang Q3 profit climbs 84.3% YOY

Samyang Corp. said its third-quarter normalized net income came to 2,591.24 South Korean won per share, an increase of 51.4% from 1,712.08 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 15.12 billion won, an increase of 84.3% from 8.21 billion won in the prior-year period.

The normalized profit margin rose to 3.8% from 2.4% in the year-earlier period.

Total revenue climbed 19.7% year over year to 401.74 billion won from 335.74 billion won, and total operating expenses rose 14.3% from the prior-year period to 368.15 billion won from 322.10 billion won.

Reported net income rose 58.7% from the prior-year period to 15.66 billion won, or 2,683.13 won per share, from 9.87 billion won, or 2,059.00 won per share.

As of Nov. 16, US$1 was equivalent to 1,172.80 South Korean won.