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SPC Samlip Q1 profit climbs 87.1% YOY

SPC Samlip Co. Ltd. said its normalized net income for the first quarter amounted to 765.75 South Korean won per share, an increase of 87.3% from 408.90 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 6.41 billion won, a gain of 87.1% from 3.43 billion won in the prior-year period.

The normalized profit margin climbed to 2.2% from 1.4% in the year-earlier period.

Total revenue climbed 15.0% year over year to 287.74 billion won from 250.29 billion won, and total operating expenses grew 13.7% from the prior-year period to 276.36 billion won from 243.05 billion won.

Reported net income increased 91.0% from the prior-year period to 8.19 billion won, or 978.11 won per share, from 4.29 billion won, or 511.64 won per share.

As of May 15, US$1 was equivalent to 1,083.65 South Korean won.