Lam Son Sugar JSCrp. said its normalized net income for the first quarter was 81.06 dong per share, a decrease of 65.1% from 232.47 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 5.67 billion dong, a decline of 51.2% from 11.62 billion dong in the year-earlier period.

The normalized profit margin declined to 2.1% from 2.7% in the year-earlier period.

Total revenue fell 35.9% year over year to 273.88 billion dong from 427.50 billion dong, and total operating expenses decreased 33.4% on an annual basis to 259.35 billion dong from 389.43 billion dong.

Reported net income fell 48.9% on an annual basis to 6.95 billion dong, or 99.35 dong per share, from 13.62 billion dong, or 272.37 dong per share.

As of May 18, US$1 was equivalent to 21,792.50 dong.