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Duc Giang Chemicals Q2 profit climbs YOY

Duc Giang Chemicals & Detergent Powder JSC said its normalized net income for the second quarter came to 805.47 dong per share, an increase from 307.02 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 40.27 billion dong, a gain from 15.35 billion dong in the year-earlier period.

The normalized profit margin rose to 6.8% from 3.3% in the year-earlier period.

Total revenue rose 26.5% on an annual basis to 592.76 billion dong from 468.75 billion dong, and total operating expenses increased 24.8% from the prior-year period to 528.88 billion dong from 423.81 billion dong.

Reported net income grew on an annual basis to 65.20 billion dong, or 1,304.02 dong per share, from 16.35 billion dong, or 327.03 dong per share.

As of Aug. 19, US$1 was equivalent to 22,400 dong.