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HaiHa Confectionery Q2 profit climbs YOY

HaiHa Confectionery Joint - Stock Co. said its second-quarter normalized net income came to 186.69 dong per share, a gain from 183.73 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 1.53 billion dong, an increase from 1.51 billion dong in the prior-year period.

The normalized profit margin rose to 1.2% from 1.1% in the year-earlier period.

Total revenue declined 12.2% year over year to 122.99 billion dong from 140.09 billion dong, and total operating expenses declined 13.1% on an annual basis to 121.87 billion dong from 140.17 billion dong.

Reported net income decreased from the prior-year period to 1.83 billion dong, or 222.82 dong per share, from 1.88 billion dong, or 229.29 dong per share.

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