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VinaCafé Bien Hoa Q1 profit falls YOY

VinaCafé Bien Hoa JSC said its normalized net income for the first quarter amounted to 153.89 dong per share, a decline of 92.4% from 2,014.84 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 4.09 billion dong, a decrease of 92.4% from 53.55 billion dong in the year-earlier period.

The normalized profit margin dropped to 0.9% from 11.9% in the year-earlier period.

Total revenue increased year over year to 472.47 billion dong from 451.51 billion dong, and total operating expenses climbed 22.7% from the prior-year period to 470.77 billion dong from 383.80 billion dong.

Reported net income declined 93.2% on an annual basis to 5.56 billion dong, or 209.29 dong per share, from 81.25 billion dong, or 3,057.05 dong per share.

As of May 19, US$1 was equivalent to 21,802.50 dong.