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Hung Hau Agricultural Q2 profit falls YOY

Hung Hau Agricultural Corp. said its normalized net income for the second quarter came to 244.05 dong per share, a decrease from 246.68 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 2.58 billion dong, a decline from 2.61 billion dong in the year-earlier period.

The normalized profit margin dropped to 2.0% from 2.1% in the year-earlier period.

Total revenue climbed 5.0% year over year to 129.22 billion dong from 123.06 billion dong, and total operating expenses rose year over year to 122.11 billion dong from 119.29 billion dong.

Reported net income decreased 15.9% year over year to 3.22 billion dong, or 304.58 dong per share, from 3.83 billion dong, or 361.92 dong per share.

As of July 21, US$1 was equivalent to 21,817.50 dong.