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Thanh Cong Textile Garment Investment Q4 profit falls YOY

Thanh Cong Textile Garment Investment Trading JSC said its fourth-quarter normalized net income amounted to 273.67 dong per share, a decline of 43.2% from 481.93 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 14.11 billion dong, a decrease of 43.2% from 24.85 billion dong in the year-earlier period.

The normalized profit margin fell to 2.2% from 3.9% in the year-earlier period.

Total revenue grew year over year to 647.61 billion dong from 640.08 billion dong, and total operating expenses increased from the prior-year period to 611.30 billion dong from 603.71 billion dong.

Reported net income fell 40.1% on an annual basis to 17.24 billion dong, or 334.40 dong per share, from 28.76 billion dong, or 557.82 dong per share.

For the year, the company's normalized net income totaled 1,967.79 dong per share, a decrease of 9.5% from 2,174.82 dong per share in the prior year.

Normalized net income was 101.45 billion dong, a decrease of 9.5% from 112.12 billion dong in the prior year.

Full-year total revenue rose 8.6% year over year to 2.792 trillion dong from 2.571 trillion dong, and total operating expenses increased 8.7% on an annual basis to 2.573 trillion dong from 2.366 trillion dong.

The company said reported net income decreased 14.9% on an annual basis to 107.47 billion dong, or 2,084.62 dong per share, in the full year, from 126.30 billion dong, or 2,449.84 dong per share.

As of March 4, US$1 was equivalent to 22,292.50 dong.