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CJ Freshway Q3 profit falls YOY

CJ Freshway Corp. said its third-quarter normalized net income came to 312.08 South Korean won per share, a decrease of 34.5% from 476.59 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 3.68 billion won, a decline of 27.6% from 5.08 billion won in the year-earlier period.

The normalized profit margin fell to 0.7% from 1.1% in the year-earlier period.

Total revenue climbed 16.3% on an annual basis to 540.86 billion won from 465.25 billion won, and total operating expenses rose 16.4% from the prior-year period to 530.62 billion won from 455.70 billion won.

Reported net income declined 44.6% from the prior-year period to 3.57 billion won, or 302.76 won per share, from 6.43 billion won, or 604.00 won per share.

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