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Southern Rubber Industry Q1 profit falls YOY

Southern Rubber Industry JSC said its normalized net income for the first quarter came to 43.78 billion dong, a fall of 30.7% from 63.13 billion dong in the prior-year period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin dropped to 6.3% from 9.2% in the year-earlier period.

Total revenue came to 689.73 billion dong, compared with 684.30 billion dong in the year-earlier period, and total operating expenses grew 6.5% from the prior-year period to 606.82 billion dong from 569.87 billion dong.

Reported net income totaled 54.64 billion dong, compared with 78.52 billion dong, or 757.70 dong per share, in the prior-year period.

As of April 20, US$1 was equivalent to 21,582.50 dong.