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Thanh Hoa Beer Q1 profit falls YOY

Thanh Hoa Beer JSC said its normalized net income for the first quarter came to 49.90 dong per share, a decrease of 79.9% from 248.72 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 670.8 million dong, a decline of 76.4% from 2.84 billion dong in the prior-year period.

The normalized profit margin fell to 0.9% from 3.9% in the year-earlier period.

Total revenue climbed 12.9% year over year to 81.27 billion dong from 71.99 billion dong, and total operating expenses climbed 14.2% year over year to 81.21 billion dong from 71.08 billion dong.

Reported net income fell 80.3% on an annual basis to 837.1 million dong, or 62.28 dong per share, from 4.24 billion dong, or 372.00 dong per share.

As of May 15, US$1 was equivalent to 21,765 dong.