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Daekyo Q1 profit falls YOY

Daekyo Co. Ltd. said its normalized net income for the first quarter was 82.96 South Korean won per share, a decline from 87.06 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 7.54 billion won, a decrease from 7.77 billion won in the year-earlier period.

The normalized profit margin fell to 3.7% from 3.7% in the year-earlier period.

Total revenue came to 208.47 billion won, compared with 209.02 billion won in the prior-year period, and total operating expenses declined on an annual basis to 197.07 billion won from 199.43 billion won.

Reported net income grew 60.4% year over year to 17.10 billion won, or 188.00 won per share, from 10.66 billion won, or 119.42 won per share.

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