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Sajo Industries Q3 profit falls YOY

Sajo Industries Co. Ltd. said its normalized net income for the third quarter amounted to 1,546.38 South Korean won per share, a decrease of 10.2% from 1,721.23 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 7.65 billion won, a decline of 8.3% from 8.34 billion won in the prior-year period.

The normalized profit margin increased to 4.4% from 2.8% in the year-earlier period.

Total revenue decreased 41.4% on an annual basis to 173.00 billion won from 295.25 billion won, and total operating expenses decreased 42.2% year over year to 158.83 billion won from 274.80 billion won.

Reported net income increased on an annual basis to 37.99 billion won, or 7,683.31 won per share, from 11.60 billion won, or 2,395.00 won per share.

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