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Vietnam National General Export-Import Q2 profit falls YOY

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Capital Markets View – January 2021


Vietnam National General Export-Import Q2 profit falls YOY

Vietnam National General Export-Import JSC No.1 said its second-quarter normalized net income amounted to 15.12 dong per share, a decline of 94.4% from 268.48 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 207.2 million dong, a decline of 94.3% from 3.63 billion dong in the prior-year period.

The normalized profit margin declined to 0.1% from 0.8% in the year-earlier period.

Total revenue declined 13.0% on an annual basis to 407.56 billion dong from 468.59 billion dong, and total operating expenses declined 11.9% on an annual basis to 398.08 billion dong from 452.04 billion dong.

Reported net income decreased 81.8% from the prior-year period to 331.5 million dong, or 24.19 dong per share, from 1.82 billion dong, or 134.88 dong per share.

As of July 22, US$1 was equivalent to 21,821 dong.