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Saigon Fishing Net JSC Q2 profit falls YOY

Saigon Fishing Net JSC said its normalized net income for the second quarter amounted to 1.61 billion dong, a fall of 10.8% from 1.80 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 4.0% from 4.0% in the year-earlier period.

Total revenue decreased 11.3% year over year to 40.36 billion dong from 45.49 billion dong, and total operating expenses declined 11.0% on an annual basis to 37.51 billion dong from 42.16 billion dong.

Reported net income totaled 2.01 billion dong, compared with 2.25 billion dong, or 785.22 dong per share, in the prior-year period.

As of July 23, US$1 was equivalent to 21,817.50 dong.