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IDI International Q4 profit falls YOY

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IDI International Q4 profit falls YOY

I.D.I International Development and Investment Corp. said its normalized net income for the fourth quarter came to 34.32 dong per share, a decrease of 68.0% from 107.25 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 3.08 billion dong, a decline of 45.2% from 5.62 billion dong in the prior-year period.

The normalized profit margin declined to 0.4% from 1.1% in the year-earlier period.

Total revenue rose 41.3% on an annual basis to 719.87 billion dong from 509.30 billion dong, and total operating expenses rose 40.2% year over year to 681.31 billion dong from 485.83 billion dong.

Reported net income grew 34.6% year over year to 14.04 billion dong, or 156.19 dong per share, from 10.42 billion dong, or 198.78 dong per share.

For the year, the company's normalized net income totaled 556.25 dong per share, a decrease of 54.2% from 1,214.72 dong per share in the prior year.

Normalized net income was 56.22 billion dong, a fall from 58.67 billion dong in the prior year.

Full-year total revenue grew 20.0% on an annual basis to 2.543 trillion dong from 2.120 trillion dong, and total operating expenses increased 19.4% on an annual basis to 2.357 trillion dong from 1.975 trillion dong.

The company said reported net income increased 10.8% year over year to 100.16 billion dong, or 991.00 dong per share, in the full year, from 90.42 billion dong, or 1,872.17 dong per share.

As of April 7, US$1 was equivalent to 22,295 dong.