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Dry Cell & Storage Battery Q2 profit climbs 27.1% YOY

Dry Cell & Storage Battery JSC said its normalized net income for the second quarter was 431.86 dong per share, a gain of 13.7% from 379.70 dong per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 22.18 billion dong, a gain of 27.1% from 17.45 billion dong in the year-earlier period.

The normalized profit margin increased to 3.7% from 3.3% in the year-earlier period.

Total revenue rose 12.3% year over year to 601.19 billion dong from 535.19 billion dong, and total operating expenses increased 11.6% on an annual basis to 561.81 billion dong from 503.57 billion dong.

Reported net income increased 29.0% on an annual basis to 27.64 billion dong, or 538.00 dong per share, from 21.42 billion dong, or 466.09 dong per share.

As of July 20, US$1 was equivalent to 21,823.50 dong.