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Hansae Yes24 Holdings Q4 profit climbs YOY

Hansae Yes24 Holdings Co. Ltd said its normalized net income for the fourth quarter amounted to 451.33 South Korean won per share, a gain from 213.41 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 18.05 billion won, an increase from 8.55 billion won in the prior-year period.

The normalized profit margin rose to 3.2% from 1.8% in the year-earlier period.

Total revenue rose 16.2% on an annual basis to 557.74 billion won from 479.87 billion won, and total operating expenses increased 14.7% on an annual basis to 502.97 billion won from 438.48 billion won.

Reported net income grew year over year to 25.52 billion won, or 637.88 won per share, from 11.09 billion won, or 276.93 won per share.

For the year, the company's normalized net income totaled 749.07 won per share, compared with the S&P Capital IQ consensus normalized EPS estimate of 1,027.00 won.

EPS rose 33.6% from 560.66 won in the prior year.

Normalized net income was 29.96 billion won, an increase of 33.6% from 22.43 billion won in the prior year.

Full-year total revenue increased 20.7% year over year to 2.086 trillion won from 1.728 trillion won, and total operating expenses grew 19.1% year over year to 1.923 trillion won from 1.615 trillion won.

The company said reported net income rose 51.6% year over year to 52.90 billion won, or 1,322.62 won per share, in the full year, from 34.89 billion won, or 872.00 won per share.

As of March 14, US$1 was equivalent to 1,188.55 South Korean won.