Vinh Hoan Corp. said its third-quarter normalized net income was 521.67 dong per share, a decrease of 78.3% from 2,409.55 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 48.20 billion dong, a decrease of 77.9% from 218.34 billion dong in the prior-year period.

The normalized profit margin fell to 3.3% from 12.9% in the year-earlier period.

Total revenue fell 14.4% on an annual basis to 1.449 trillion dong from 1.693 trillion dong, and total operating expenses declined 10.1% year over year to 1.352 trillion dong from 1.504 trillion dong.

Reported net income declined 78.1% year over year to 60.06 billion dong, or 650.00 dong per share, from 274.02 billion dong, or 3,024.00 dong per share.

As of Nov. 16, US$1 was equivalent to 22,445 dong.