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Royal International swings to profit in Q2

Royal International Corp. said its second-quarter normalized net income came to 19.16 billion dong, compared with a loss of 28.12 billion dong in the year-earlier period.

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

The normalized profit margin increased to 18.0% from negative 62.0% in the year-earlier period.

Total revenue climbed on an annual basis to 102.13 billion dong from 45.36 billion dong, and total operating expenses fell 16.0% from the prior-year period to 71.22 billion dong from 84.75 billion dong.

Reported net income came to 30.78 billion dong, compared with a loss of 44.24 billion dong, or a loss of 628.67 dong per share, in the year-earlier period.

As of July 20, US$1 was equivalent to 21,823.50 dong.