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Nagakawa Vietnam H2 profit falls YOY

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Nagakawa Vietnam H2 profit falls YOY

Nagakawa Vietnam JSC said its normalized net income for the second half was 3.30 billion dong, a fall of 58.0% from 7.85 billion dong in the prior-year period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

Total revenue grew on an annual basis to 162.19 billion dong from 156.71 billion dong, and total operating expenses increased 9.5% from the prior-year period to 157.80 billion dong from 144.14 billion dong.

Reported net income declined 57.9% year over year to 4.12 billion dong, or 277.18 dong per share, from 9.80 billion dong.

For the year, the company's normalized net income totaled 9.16 billion dong, a decrease of 23.7% from 12.00 billion dong in the prior year.

Full-year total revenue increased 17.0% from the prior-year period to 326.30 billion dong from 278.97 billion dong, and total operating expenses grew 21.0% on an annual basis to 312.87 billion dong from 258.67 billion dong.

The company said reported net income fell 27.4% on an annual basis to 10.96 billion dong, or 738.00 dong per share, in the full year, from 15.09 billion dong.

As of Feb. 17, US$1 was equivalent to 22,397.50 dong.