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Duc Giang Chemicals Q1 profit climbs 23.0% YOY

Duc Giang Chemicals & Detergent Powder JSC said its normalized net income for the first quarter came to 613.49 dong per share, an increase of 23.0% from 498.66 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 30.68 billion dong, an increase of 23.0% from 24.94 billion dong in the year-earlier period.

The normalized profit margin dropped to 4.9% from 5.5% in the year-earlier period.

Total revenue climbed 38.0% on an annual basis to 630.24 billion dong from 456.74 billion dong, and total operating expenses climbed 44.9% year over year to 556.95 billion dong from 384.36 billion dong.

Reported net income grew 23.3% from the prior-year period to 52.44 billion dong, or 1,048.57 dong per share, from 42.53 billion dong, or 850.50 dong per share.

As of May 19, US$1 was equivalent to 21,802.50 dong.