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SJM Holdings Q3 profit climbs 32.0% YOY

SJM Holdings Co. Ltd. said its normalized net income for the third quarter was 166.65 South Korean won per share, an increase of 31.5% from 126.76 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 2.26 billion won, a gain of 32.0% from 1.71 billion won in the year-earlier period.

The normalized profit margin fell to 5.0% from 5.2% in the year-earlier period.

Total revenue grew 36.7% on an annual basis to 44.93 billion won from 32.86 billion won, and total operating expenses grew 34.4% year over year to 39.70 billion won from 29.54 billion won.

Reported net income rose 89.8% from the prior-year period to 2.90 billion won, or 213.69 won per share, from 1.53 billion won, or 113.00 won per share.

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