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Sajo Seafood Q3 profit falls YOY

Sajo Seafood Co. Ltd. said its third-quarter normalized net income came to 96.95 South Korean won per share, a decrease of 46.9% from 182.53 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 1.67 billion won, a decline of 47.0% from 3.15 billion won in the prior-year period.

The normalized profit margin fell to 2.3% from 4.3% in the year-earlier period.

Total revenue totaled 74.18 billion won, compared with 73.75 billion won in the prior-year period, and total operating expenses grew on an annual basis to 71.30 billion won from 68.14 billion won.

Reported net income decreased 71.3% year over year to 1.28 billion won, or 74.05 won per share, from 4.45 billion won, or 258.00 won per share.

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