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Saigon Fuel Q2 profit climbs 64.4% YOY

Saigon Fuel JSC said its normalized net income for the second quarter came to 1,076.06 dong per share, a gain of 64.4% from 654.47 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 12.09 billion dong, a gain of 64.4% from 7.35 billion dong in the prior-year period.

The normalized profit margin rose to 3.2% from 1.0% in the year-earlier period.

Total revenue declined 45.7% on an annual basis to 382.33 billion dong from 703.94 billion dong, and total operating expenses decreased 47.4% from the prior-year period to 364.68 billion dong from 693.51 billion dong.

Reported net income rose 63.4% from the prior-year period to 14.98 billion dong, or 1,334.00 dong per share, from 9.17 billion dong, or 815.91 dong per share.

As of July 20, US$1 was equivalent to 21,823.50 dong.