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Hai Phong Electrical Mechanical Q2 profit climbs 46.7% YOY

Hai Phong Electrical Mechanical JSC said its second-quarter normalized net income amounted to 5.89 billion dong, a gain of 46.7% from 4.02 billion dong in the prior-year period.

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

The normalized profit margin increased to 4.6% from 3.2% in the year-earlier period.

Total revenue climbed on an annual basis to 128.85 billion dong from 124.94 billion dong, and total operating expenses rose on an annual basis to 119.28 billion dong from 117.40 billion dong.

Reported net income came to 7.34 billion dong, compared with 4.95 billion dong, or 521.52 dong per share, in the prior-year period.

As of Aug. 14, US$1 was equivalent to 22,103 dong.