Bien Hoa Sugar JSC said its normalized net income for the fiscal second quarter ended Dec. 31, 2014, amounted to 151.04 dong per share, a decrease of 73.0% from 558.89 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 12.37 billion dong, a decline of 54.8% from 27.36 billion dong in the year-earlier period.
The normalized profit margin fell to 1.6% from 3.3% in the year-earlier period.
Total revenue decreased 5.1% on an annual basis to 786.74 billion dong from 829.01 billion dong, and total operating expenses fell from the prior-year period to 766.64 billion dong from 781.19 billion dong.
Reported net income declined 36.7% from the prior-year period to 20.00 billion dong, or 244.18 dong per share, from 31.59 billion dong, or 645.31 dong per share.
As of Feb. 27, US$1 was equivalent to 21,347.50 dong.
