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HaiHa Confectionery profit holds relatively steady YOY in Q1

HaiHa Confectionery Joint - Stock Co. said its normalized net income for the first quarter was 618.59 dong per share, compared with 617.77 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 5.08 billion dong, compared with 5.08 billion dong in the prior-year period.

The normalized profit margin increased to 2.7% from 2.5% in the year-earlier period.

Total revenue declined 6.7% on an annual basis to 189.18 billion dong from 202.84 billion dong, and total operating expenses decreased 7.2% on an annual basis to 181.81 billion dong from 195.95 billion dong.

Reported net income totaled 6.34 billion dong, or 772.00 dong per share, compared to 6.33 billion dong, or 771.00 dong per share, in the prior-year period.

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