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Materials-Petroleum fiscal Q4 profit climbs 33.6% YOY

Materials-Petroleum JSC said its normalized net income for the fiscal fourth quarter ended Jan. 1 came to 1,127.05 dong per share, a gain of 33.6% from 843.87 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 15.91 billion dong, an increase of 33.6% from 11.92 billion dong in the prior-year period.

The normalized profit margin rose to 1.4% from 0.9% in the year-earlier period.

Total revenue decreased 28.3% on an annual basis to 942.53 billion dong from 1.315 trillion dong, and total operating expenses declined 29.5% from the prior-year period to 917.76 billion dong from 1.301 trillion dong.

Reported net income rose 5.1% from the prior-year period to 10.25 billion dong, or 725.79 dong per share, from 9.75 billion dong, or 690.68 dong per share.

For the year, the company's normalized net income totaled 5,440.53 dong per share, an increase from 2,375.96 dong per share in the prior year.

Normalized net income was 76.82 billion dong, a rise from 33.17 billion dong in the prior year.

Full-year total revenue decreased 22.9% year over year to 4.208 trillion dong from 5.455 trillion dong, and total operating expenses fell 24.4% year over year to 4.088 trillion dong from 5.409 trillion dong.

The company said reported net income increased on an annual basis to 90.00 billion dong, or 6,373.73 dong per share, in the full year, from 37.82 billion dong, or 2,708.42 dong per share.

As of Feb. 22, US$1 was equivalent to 22,382.50 dong.