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Royal International Q1 loss narrows YOY

Royal International Corp. said its first-quarter normalized net income came to 14.40 billion dong, compared with a loss of 21.92 billion dong in the year-earlier period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin climbed to negative 27.4% from negative 37.9% in the year-earlier period.

Total revenue fell 8.8% on an annual basis to 52.79 billion dong from 57.86 billion dong, and total operating expenses fell 16.6% from the prior-year period to 70.94 billion dong from 85.06 billion dong.

Reported net income came to a loss of 23.04 billion dong, compared with a loss of 34.33 billion dong in the prior-year period.

As of April 20, US$1 was equivalent to 21,582.50 dong.