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Hanoi-Kinhbac Q3 profit falls YOY

Hanoi-Kinhbac Agriculture & Food JSC said its third-quarter normalized net income amounted to 11.26 dong per share, a decrease of 89.4% from 106.13 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 243.2 million dong, a decrease of 68.9% from 782.9 million dong in the prior-year period.

The normalized profit margin declined to 1.2% from 1.8% in the year-earlier period.

Total revenue fell 51.5% year over year to 21.01 billion dong from 43.28 billion dong, and total operating expenses decreased 47.2% from the prior-year period to 21.00 billion dong from 39.80 billion dong.

Reported net income fell 77.9% on an annual basis to 211.3 million dong, or 9.79 dong per share, from 956.2 million dong, or 129.63 dong per share.

As of Nov. 16, US$1 was equivalent to 22,445 dong.