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Banking Essentials Newsletter: 17th April Edition

Hanssem Q2 profit climbs 56.2% YOY

Hanssem Co. Ltd. said its second-quarter normalized net income amounted to 1,517.12 South Korean won per share, a gain of 56.3% from 970.76 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 27.43 billion won, a gain of 56.2% from 17.56 billion won in the prior-year period.

The normalized profit margin climbed to 6.5% from 5.5% in the year-earlier period.

Total revenue climbed 33.3% year over year to 424.28 billion won from 318.38 billion won, and total operating expenses increased 31.4% from the prior-year period to 382.62 billion won from 291.22 billion won.

Reported net income rose 44.7% on an annual basis to 31.38 billion won, or 1,735.43 won per share, from 21.69 billion won, or 1,199.02 won per share.

As of Aug. 17, US$1 was equivalent to 1,183.06 South Korean won.