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Vinh Khanh Cable Plastic Q1 profit climbs 73.4% YOY

Vinh Khanh Cable Plastic Corp. said its normalized net income for the first quarter was 280.45 dong per share, an increase of 73.3% from 161.86 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 3.65 billion dong, a gain of 73.4% from 2.10 billion dong in the year-earlier period.

The normalized profit margin rose to 1.6% from 1.2% in the year-earlier period.

Total revenue increased 38.6% on an annual basis to 234.81 billion dong from 169.47 billion dong, and total operating expenses climbed 39.6% from the prior-year period to 224.92 billion dong from 161.07 billion dong.

Reported net income rose 73.4% on an annual basis to 4.55 billion dong, or 350.00 dong per share, from 2.62 billion dong, or 202.00 dong per share.

As of April 23, US$1 was equivalent to 21,590 dong.