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Ha Long Canned Food Q2 profit falls YOY

Ha Long Canned Food JSC said its second-quarter normalized net income came to 318.06 dong per share, a decline of 74.8% from 1,260.90 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 1.63 billion dong, a decrease of 74.1% from 6.31 billion dong in the year-earlier period.

The normalized profit margin fell to 1.6% from 5.2% in the year-earlier period.

Total revenue declined 17.4% year over year to 99.63 billion dong from 120.59 billion dong, and total operating expenses declined 12.1% on an annual basis to 97.33 billion dong from 110.69 billion dong.

Reported net income decreased 76.0% year over year to 1.80 billion dong, or 351.00 dong per share, from 7.50 billion dong, or 1,500.00 dong per share.

As of Aug. 18, US$1 was equivalent to 22,095 dong.