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Southern Seed Q2 profit climbs 17.8% YOY

Southern Seed JSC said its normalized net income for the second quarter came to 1,555.82 dong per share, a gain of 17.8% from 1,321.24 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 23.23 billion dong, an increase of 17.8% from 19.73 billion dong in the prior-year period.

The normalized profit margin increased to 10.8% from 9.2% in the year-earlier period.

Total revenue came to 215.90 billion dong, compared with 215.05 billion dong in the prior-year period, and total operating expenses totaled 181.68 billion dong, compared with 182.09 billion dong in the prior-year period.

Reported net income declined 11.4% from the prior-year period to 27.88 billion dong, or 1,867.01 dong per share, from 31.46 billion dong, or 2,107.17 dong per share.

As of Aug. 10, US$1 was equivalent to 21,814.50 dong.