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Sao Vang Rubber fiscal Q4 profit climbs 34.9% YOY

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Sao Vang Rubber fiscal Q4 profit climbs 34.9% YOY

Sao Vang Rubber JSC said its normalized net income for the fiscal fourth quarter ended Jan. 1 came to 354.98 dong per share, a gain of 34.9% from 263.21 dong per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 9.96 billion dong, a gain of 34.9% from 7.39 billion dong in the prior-year period.

The normalized profit margin rose to 4.2% from 2.9% in the year-earlier period.

Total revenue fell 10.1% on an annual basis to 230.19 billion dong from 256.06 billion dong, and total operating expenses fell 11.9% on an annual basis to 212.56 billion dong from 241.39 billion dong.

Reported net income increased 32.4% on an annual basis to 12.02 billion dong, or 428.29 dong per share, from 9.08 billion dong, or 323.35 dong per share.

For the year, the company's normalized net income totaled 2,137.28 dong per share, an increase of 8.8% from 1,964.36 dong per share in the prior year.

Normalized net income was 59.98 billion dong, a rise of 8.8% from 55.13 billion dong in the prior year.

Full-year total revenue declined from the prior-year period to 960.26 billion dong from 993.28 billion dong, and total operating expenses declined year over year to 856.32 billion dong from 892.23 billion dong.

The company said reported net income grew 8.4% on an annual basis to 74.44 billion dong, or 2,652.60 dong per share, in the full year, from 68.66 billion dong, or 2,446.39 dong per share.

As of March 8, US$1 was equivalent to 22,300 dong.