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Investment Commerce Fisheries Q1 profit falls YOY

Investment Commerce Fisheries Corp. said its first-quarter normalized net income was 1.26 dong per share, a decline of 98.3% from 74.64 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 16.2 million dong, a decline of 98.3% from 955.9 million dong in the prior-year period.

The normalized profit margin dropped to 0.1% from 2.1% in the year-earlier period.

Total revenue fell 42.5% year over year to 25.81 billion dong from 44.88 billion dong, and total operating expenses decreased 42.1% on an annual basis to 24.10 billion dong from 41.65 billion dong.

Reported net income decreased 97.0% on an annual basis to 40.4 million dong, or 3.15 dong per share, from 1.36 billion dong, or 106.48 dong per share.

As of April 27, US$1 was equivalent to 21,590 dong.