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Lamdong Foodstuffs Q1 profit falls YOY

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Lamdong Foodstuffs Q1 profit falls YOY

Lamdong Foodstuffs JSC said its normalized net income for the first quarter came to 224.89 dong per share, a decline of 25.4% from 301.30 dong per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 3.30 billion dong, a decline of 25.3% from 4.42 billion dong in the year-earlier period.

The normalized profit margin fell to 4.4% from 6.7% in the year-earlier period.

Total revenue rose 13.9% on an annual basis to 74.59 billion dong from 65.49 billion dong, and total operating expenses grew 18.8% year over year to 69.97 billion dong from 58.88 billion dong.

Reported net income declined 24.3% year over year to 4.35 billion dong, or 296.24 dong per share, from 5.75 billion dong, or 391.90 dong per share.

As of May 15, US$1 was equivalent to 21,765 dong.