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Safoco Foodstuff Q1 profit climbs 25.1% YOY

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Safoco Foodstuff Q1 profit climbs 25.1% YOY

Safoco Foodstuff JSC said its first-quarter normalized net income came to 714.18 dong per share, a gain of 25.1% from 570.81 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 5.66 billion dong, an increase of 25.1% from 4.52 billion dong in the year-earlier period.

The normalized profit margin climbed to 3.1% from 2.8% in the year-earlier period.

Total revenue increased 13.3% year over year to 184.87 billion dong from 163.13 billion dong, and total operating expenses climbed 12.8% from the prior-year period to 176.97 billion dong from 156.95 billion dong.

Reported net income increased 25.9% on an annual basis to 7.04 billion dong, or 888.81 dong per share, from 5.59 billion dong, or 705.97 dong per share.

As of April 17, US$1 was equivalent to 21,590 dong.