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Nam Viet Q1 profit climbs YOY

Nam Viet Corp. said its normalized net income for the first quarter came to 76.00 dong per share, a gain from 36.92 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 9.47 billion dong, an increase from 4.59 billion dong in the prior-year period.

The normalized profit margin increased to 1.7% from 0.7% in the year-earlier period.

Total revenue fell 12.5% on an annual basis to 544.77 billion dong from 622.28 billion dong, and total operating expenses decreased 14.0% from the prior-year period to 518.21 billion dong from 602.62 billion dong.

Reported net income rose 95.2% from the prior-year period to 14.29 billion dong, or 114.74 dong per share, from 7.32 billion dong, or 58.95 dong per share.

As of May 14, US$1 was equivalent to 21,795 dong.