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Masan Group swings to profit in Q2

Masan Group Corp. said its second-quarter normalized net income was 190.72 dong per share, compared with a loss of 86.76 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 213.80 billion dong, compared with a loss of 97.13 billion dong in the year-earlier period.

The normalized profit margin increased to 3.1% from negative 2.4% in the year-earlier period.

Total revenue rose 65.3% on an annual basis to 6.829 trillion dong from 4.132 trillion dong, and total operating expenses climbed 68.1% on an annual basis to 5.985 trillion dong from 3.560 trillion dong.

Reported net income totaled 359.47 billion dong, or 320.67 dong per share, compared to a loss of 227.02 billion dong, or a loss of 202.78 dong per share, in the year-earlier period.

As of Aug. 19, US$1 was equivalent to 22,400 dong.