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Hung Vuong Q1 profit climbs 68.3% YOY

Hung Vuong Corp. said its first-quarter normalized net income came to 139.26 dong per share, an increase of 73.9% from 80.07 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 23.68 billion dong, a gain of 68.3% from 14.08 billion dong in the prior-year period.

The normalized profit margin rose to 0.8% from 0.4% in the year-earlier period.

Total revenue declined 16.5% on an annual basis to 3.120 trillion dong from 3.736 trillion dong, and total operating expenses decreased 14.3% on an annual basis to 3.031 trillion dong from 3.537 trillion dong.

Reported net income fell 65.6% on an annual basis to 36.99 billion dong, or 217.50 dong per share, from 107.51 billion dong, or 611.61 dong per share.

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