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Sao Ta Foods JSC Q1 profit climbs YOY

Sao Ta Foods JSC said its first-quarter normalized net income amounted to 474.49 dong per share, a gain of 69.5% from 279.95 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 9.49 billion dong, a gain from 3.43 billion dong in the prior-year period.

The normalized profit margin climbed to 2.0% from 0.6% in the year-earlier period.

Total revenue fell 9.1% on an annual basis to 504.34 billion dong from 554.86 billion dong, and total operating expenses fell 11.5% year over year to 484.70 billion dong from 547.62 billion dong.

Reported net income rose from the prior-year period to 11.84 billion dong, or 592.17 dong per share, from 3.71 billion dong, or 302.32 dong per share.

As of April 21, US$1 was equivalent to 21,585 dong.