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Hai Phong Electrical Mechanical Q1 profit falls YOY

Hai Phong Electrical Mechanical JSC said its first-quarter normalized net income amounted to 364.80 dong per share, a decline of 12.0% from 414.39 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 3.46 billion dong, a decrease of 12.0% from 3.93 billion dong in the year-earlier period.

The normalized profit margin dropped to 3.7% from 9.7% in the year-earlier period.

Total revenue rose on an annual basis to 92.41 billion dong from 40.63 billion dong, and total operating expenses grew year over year to 86.50 billion dong from 33.40 billion dong.

Reported net income decreased 12.6% year over year to 4.32 billion dong, or 455.02 dong per share, from 4.94 billion dong, or 520.32 dong per share.

As of May 13, US$1 was equivalent to 21,740 dong.