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Sa Giang Import Export Q1 profit falls YOY

Sa Giang Import Export Corp. said its normalized net income for the first quarter was 412.68 dong per share, a decrease of 34.1% from 626.17 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 2.95 billion dong, a decline of 34.1% from 4.48 billion dong in the year-earlier period.

The normalized profit margin fell to 5.6% from 8.3% in the year-earlier period.

Total revenue decreased year over year to 52.42 billion dong from 53.69 billion dong, and total operating expenses climbed on an annual basis to 47.66 billion dong from 46.57 billion dong.

Reported net income declined 39.4% on an annual basis to 4.01 billion dong, or 561.00 dong per share, from 6.62 billion dong, or 926.00 dong per share.

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