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Duc Thanh Wood Processing Q2 profit falls YOY

Duc Thanh Wood Processing JSC said its second-quarter normalized net income amounted to 731.87 dong per share, a decline of 11.0% from 822.66 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 10.02 billion dong, a decline of 11.0% from 11.26 billion dong in the year-earlier period.

The normalized profit margin dropped to 13.7% from 16.7% in the year-earlier period.

Total revenue rose 9.1% year over year to 73.43 billion dong from 67.30 billion dong, and total operating expenses grew 9.3% on an annual basis to 56.35 billion dong from 51.57 billion dong.

Reported net income declined 13.3% year over year to 11.84 billion dong, or 865.15 dong per share, from 13.66 billion dong, or 997.71 dong per share.

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