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Thong Nhat Rubber JSC Q2 profit falls YOY

Thong Nhat Rubber JSC said its normalized net income for the second quarter amounted to 101.21 dong per share, a decrease of 33.4% from 152.04 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 1.95 billion dong, a decrease of 33.5% from 2.93 billion dong in the prior-year period.

The normalized profit margin dropped to 7.9% from 11.6% in the year-earlier period.

Total revenue decreased on an annual basis to 24.67 billion dong from 25.26 billion dong, and total operating expenses rose 34.4% on an annual basis to 37.94 billion dong from 28.22 billion dong.

Reported net income decreased 74.8% on an annual basis to 2.83 billion dong, or 147.00 dong per share, from 11.22 billion dong, or 582.97 dong per share.

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