Hoang Anh Gia Lai Agricultural JSC said its normalized net income for the first quarter amounted to 111.93 dong per share, a decrease of 68.3% from 352.90 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 66.87 billion dong, a decrease of 68.2% from 210.54 billion dong in the prior-year period.

The normalized profit margin declined to 13.2% from 29.1% in the year-earlier period.

Total revenue fell 30.1% year over year to 506.10 billion dong from 724.19 billion dong, and total operating expenses declined from the prior-year period to 329.39 billion dong from 345.29 billion dong.

Reported net income declined 68.7% year over year to 105.90 billion dong, or 177.26 dong per share, from 338.00 billion dong, or 566.56 dong per share.

As of June 2, US$1 was equivalent to 21,817.50 dong.