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Hung Vuong Q2 profit falls YOY

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Hung Vuong Q2 profit falls YOY

Hung Vuong Corp. said its second-quarter normalized net income amounted to 75.43 dong per share, a decline of 77.1% from 329.11 dong per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 17.05 billion dong, a decrease of 70.0% from 56.88 billion dong in the year-earlier period.

The normalized profit margin dropped to 1.1% from 1.8% in the year-earlier period.

Total revenue increased 43.2% on an annual basis to 4.571 trillion dong from 3.192 trillion dong, and total operating expenses rose 39.7% from the prior-year period to 4.383 trillion dong from 3.138 trillion dong.

Reported net income declined 64.7% from the prior-year period to 13.00 billion dong, or 57.50 dong per share, from 36.78 billion dong, or 212.81 dong per share.

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