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Truong Thanh Furniture Q3 profit climbs YOY

Truong Thanh Furniture Corp. said its normalized net income for the third quarter was 534.13 dong per share, an increase of 79.7% from 297.18 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 59.71 billion dong, a gain from 21.84 billion dong in the prior-year period.

The normalized profit margin rose to 14.7% from 7.0% in the year-earlier period.

Total revenue rose 32.2% on an annual basis to 410.55 billion dong from 310.57 billion dong, and total operating expenses grew 19.3% from the prior-year period to 309.56 billion dong from 259.53 billion dong.

Reported net income grew year over year to 87.98 billion dong, or 786.99 dong per share, from 32.08 billion dong, or 436.60 dong per share.

As of Nov. 11, US$1 was equivalent to 22,390 dong.