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Phuoc Hoa Rubber Q2 profit falls YOY

Phuoc Hoa Rubber JSC said its second-quarter normalized net income was 139.04 dong per share, a decrease of 63.3% from 379.23 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 10.88 billion dong, a decrease of 63.4% from 29.75 billion dong in the prior-year period.

The normalized profit margin fell to negative 0.4% from 9.1% in the year-earlier period.

Total revenue fell 22.1% on an annual basis to 253.95 billion dong from 325.94 billion dong, and total operating expenses fell 16.8% on an annual basis to 259.78 billion dong from 312.27 billion dong.

Reported net income decreased 53.2% year over year to 19.96 billion dong, or 255.00 dong per share, from 42.60 billion dong, or 543.00 dong per share.

As of Aug. 14, US$1 was equivalent to 22,103 dong.