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Kinh Do Q1 profit falls YOY

Kinh Do Corp. said its first-quarter normalized net income was 31.45 billion dong, a decline from 32.60 billion dong in the year-earlier period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin fell to negative 1.9% from 4.1% in the year-earlier period.

Total revenue rose 28.1% on an annual basis to 1.016 trillion dong from 792.94 billion dong, and total operating expenses grew 30.4% from the prior-year period to 989.04 billion dong from 758.32 billion dong.

Reported net income totaled 29.60 billion dong, compared with 32.67 billion dong in the prior-year period.

As of May 15, US$1 was equivalent to 21,765 dong.