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Century Synthetic Fiber Q1 profit falls YOY

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Century Synthetic Fiber Q1 profit falls YOY

Century Synthetic Fiber Corp. said its normalized net income for the first quarter was 343.89 dong per share, a decrease of 12.3% from 392.12 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 20.37 billion dong, a decrease of 5.5% from 21.56 billion dong in the prior-year period.

The normalized profit margin increased to 6.4% from 5.8% in the year-earlier period.

Total revenue declined 14.3% year over year to 317.40 billion dong from 370.15 billion dong, and total operating expenses fell 14.9% on an annual basis to 284.26 billion dong from 333.94 billion dong.

Reported net income fell year over year to 25.41 billion dong, or 428.90 dong per share, from 26.18 billion dong, or 476.06 dong per share.

As of April 20, US$1 was equivalent to 21,582.50 dong.