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Hoang Anh Gia Lai Q2 profit climbs YOY

Hoang Anh Gia Lai Agricultural Joint Stock Co. said its second-quarter normalized net income amounted to 506.79 dong per share, a gain from 141.50 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 283.45 billion dong, an increase from 98.98 billion dong in the year-earlier period.

The normalized profit margin rose to 18.6% from 18.2% in the year-earlier period.

Total revenue rose year over year to 1.566 trillion dong from 543.85 billion dong, and total operating expenses grew from the prior-year period to 996.91 billion dong from 314.02 billion dong.

Reported net income grew from the prior-year period to 481.80 billion dong, or 861.43 dong per share, from 225.74 billion dong, or 322.70 dong per share.

As of Aug. 14, US$1 was equivalent to 22,103 dong.