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Sao Ta Foods JSC Q2 profit falls YOY

Sao Ta Foods JSC said its normalized net income for the second quarter amounted to 629.01 dong per share, a decrease of 43.1% from 1,105.31 dong per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 12.58 billion dong, a decline of 17.1% from 15.18 billion dong in the year-earlier period.

The normalized profit margin fell to 1.9% from 2.2% in the year-earlier period.

Total revenue grew 5.9% year over year to 729.95 billion dong from 689.32 billion dong, and total operating expenses increased 6.0% year over year to 703.11 billion dong from 663.62 billion dong.

Reported net income declined 19.5% on an annual basis to 15.71 billion dong, or 785.00 dong per share, from 19.52 billion dong, or 1,421.46 dong per share.

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