Thanh Hoa Beer JSC said its fourth-quarter normalized net income was 515.8 million dong.

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

The normalized profit margin was 0.4%.

Total revenue totaled 122.16 billion dong, and total operating expenses totaled 123.68 billion dong.

Reported net income totaled 389.0 million dong, or 29.00 dong per share.

For the year, the company's normalized net income totaled 906.15 dong per share, a fall of 64.6% from 2,562.64 dong per share in the prior year.

Normalized net income was 12.16 billion dong, a fall of 58.5% from 29.28 billion dong in the prior year.

Full-year total revenue increased 14.4% from the prior-year period to 534.89 billion dong from 467.75 billion dong, and total operating expenses rose 21.3% year over year to 522.39 billion dong from 430.63 billion dong.

The company said reported net income decreased 59.9% on an annual basis to 14.79 billion dong, or 1,102.34 dong per share, in the full year, from 36.83 billion dong, or 3,224.00 dong per share.

As of Feb. 4, US$1 was equivalent to 22,288.50 dong.