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Safoco Foodstuff Q2 profit climbs 18.9% YOY

Safoco Foodstuff JSC said its second-quarter normalized net income came to 650.23 dong per share, a gain of 18.9% from 546.65 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 5.15 billion dong, an increase of 18.9% from 4.33 billion dong in the year-earlier period.

The normalized profit margin dropped to 2.8% from 2.8% in the year-earlier period.

Total revenue increased 20.2% year over year to 184.23 billion dong from 153.31 billion dong, and total operating expenses increased 20.5% on an annual basis to 177.34 billion dong from 147.15 billion dong.

Reported net income increased 18.8% from the prior-year period to 6.39 billion dong, or 806.72 dong per share, from 5.37 billion dong, or 678.36 dong per share.

As of July 21, US$1 was equivalent to 21,817.50 dong.