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Samyang Holdings profit beats consensusin Q3

Samyang Holdings Corp. said its normalized net income for the third quarter came to 2,852.85 South Korean won per share, compared with the S&P Capital IQ consensus estimate of 1,361.00 won per share.

EPS rose year over year from 530.12 won.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 21.20 billion won, an increase from 4.03 billion won in the prior-year period.

The normalized profit margin increased to 3.6% from 0.7% in the year-earlier period.

Total revenue rose 5.0% year over year to 582.77 billion won from 554.89 billion won, and total operating expenses climbed year over year to 536.34 billion won from 528.99 billion won.

Reported net income rose 80.3% on an annual basis to 24.96 billion won, or 3,359.00 won per share, from 13.85 billion won, or 1,822.00 won per share.

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