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Tuong An Vegetable Oil Q4 profit falls YOY

Tuong An Vegetable Oil JSC said its normalized net income for the fourth quarter came to 387.66 dong per share, a decrease of 63.1% from 1,049.58 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 12.51 billion dong, a decline of 63.1% from 33.87 billion dong in the prior-year period.

The normalized profit margin dropped to 1.3% from 3.3% in the year-earlier period.

Total revenue fell 6.4% on an annual basis to 948.53 billion dong from 1.014 trillion dong, and total operating expenses declined year over year to 932.53 billion dong from 964.72 billion dong.

Reported net income declined 74.0% on an annual basis to 10.01 billion dong, or 310.10 dong per share, from 38.46 billion dong, or 1,191.85 dong per share.

For the year, the company's normalized net income totaled 1,690.74 dong per share, a gain of 9.5% from 1,543.88 dong per share in the prior year.

Normalized net income was 54.55 billion dong, a rise of 9.5% from 49.82 billion dong in the prior year.

Full-year total revenue decreased 12.9% from the prior-year period to 3.593 trillion dong from 4.123 trillion dong, and total operating expenses declined 13.4% year over year to 3.512 trillion dong from 4.057 trillion dong.

The company said reported net income increased 9.1% on an annual basis to 64.30 billion dong, or 1,992.94 dong per share, in the full year, from 58.93 billion dong, or 1,826.23 dong per share.

As of April 8, US$1 was equivalent to 22,294.50 dong.