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Chuong Duong Beverages Q1 profit falls YOY

Chuong Duong Beverages JSC said its normalized net income for the first quarter was 106.89 dong per share, a decline of 63.3% from 290.87 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 908.8 million dong, a decline of 63.1% from 2.46 billion dong in the prior-year period.

The normalized profit margin declined to 1.3% from 3.0% in the year-earlier period.

Total revenue fell 12.8% on an annual basis to 71.87 billion dong from 82.43 billion dong, and total operating expenses declined 7.7% on an annual basis to 74.95 billion dong from 81.23 billion dong.

Reported net income decreased 69.6% on an annual basis to 935.2 million dong, or 110.00 dong per share, from 3.07 billion dong, or 363.00 dong per share.

As of April 22, US$1 was equivalent to 21,586 dong.