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KLF Joint Venture Q4 profit falls YOY

KLF Joint Venture Global Investment JSC said its normalized net income for the fourth quarter came to 6,772.23 dong per share, a gain from 21.47 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 1.12 billion dong, a decline of 65.6% from 3.26 billion dong in the year-earlier period.

The normalized profit margin declined to 0.1% from 1.1% in the year-earlier period.

Total revenue rose on an annual basis to 823.36 billion dong from 303.47 billion dong, and total operating expenses grew on an annual basis to 816.17 billion dong from 300.14 billion dong.

Reported net income declined 95.7% on an annual basis to 198.3 million dong, or 1,199.01 dong per share, from 4.59 billion dong, or 30.28 dong per share.

For the year, the company's normalized net income totaled 74.23 dong per share, a decrease of 66.0% from 218.16 dong per share in the prior year.

Normalized net income was 11.98 billion dong, a fall of 34.2% from 18.21 billion dong in the prior year.

Full-year total revenue grew from the prior-year period to 1.643 trillion dong from 732.93 billion dong, and total operating expenses rose 125.9% year over year to 1.631 trillion dong from 721.73 billion dong.

The company said reported net income fell 48.2% on an annual basis to 46.81 billion dong, or 290.00 dong per share, in the full year, from 90.31 billion dong, or 1,082.13 dong per share.

As of Feb. 16, US$1 was equivalent to 22,372.50 dong.