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Century Synthetic Fiber Q2 profit climbs 12.2% YOY

Century Synthetic Fiber Corp. said its second-quarter normalized net income amounted to 391.49 dong per share, an increase from 379.47 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 23.42 billion dong, an increase of 12.2% from 20.87 billion dong in the prior-year period.

The normalized profit margin rose to 7.6% from 5.9% in the year-earlier period.

Total revenue fell 11.2% on an annual basis to 312.95 billion dong from 352.55 billion dong, and total operating expenses decreased 16.4% from the prior-year period to 263.98 billion dong from 315.58 billion dong.

Reported net income grew 9.9% on an annual basis to 29.25 billion dong, or 489.00 dong per share, from 26.61 billion dong, or 483.81 dong per share.

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