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Long An Food Processing Export Q1 profit falls YOY

Long An Food Processing Export JSC said its first-quarter normalized net income came to 63.75 dong per share, a decrease of 5.6% from 67.50 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 941.8 million dong, a decrease of 5.4% from 996.0 million dong in the year-earlier period.

The normalized profit margin declined to 0.9% from 1.1% in the year-earlier period.

Total revenue rose 9.2% on an annual basis to 102.96 billion dong from 94.28 billion dong, and total operating expenses increased 12.5% from the prior-year period to 104.27 billion dong from 92.66 billion dong.

Reported net income decreased 5.4% year over year to 1.51 billion dong, or 102.00 dong per share, from 1.59 billion dong, or 108.00 dong per share.

As of April 20, US$1 was equivalent to 21,582.50 dong.