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Dongwon F&B Q1 profit climbs 13.3% YOY

Dongwon F&B Co. Ltd. said its normalized net income for the first quarter amounted to 4,488.23 South Korean won per share, a gain of 13.3% from 3,962.87 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 17.32 billion won, a gain of 13.3% from 15.29 billion won in the prior-year period.

The normalized profit margin increased to 3.6% from 3.4% in the year-earlier period.

Total revenue grew 6.7% on an annual basis to 486.18 billion won from 455.60 billion won, and total operating expenses rose 6.6% year over year to 458.33 billion won from 429.91 billion won.

Reported net income increased 18.3% from the prior-year period to 21.81 billion won, or 5,652.71 won per share, from 18.44 billion won, or 4,778.17 won per share.

As of May 12, US$1 was equivalent to 1,096.30 South Korean won.