Nagakawa Vietnam JSC said its first-quarter normalized net income came to 116.77 dong per share, a decrease of 44.3% from 209.51 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 1.73 billion dong, a decrease of 44.3% from 3.11 billion dong in the year-earlier period.

The normalized profit margin fell to 2.7% from 5.0% in the year-earlier period.

Total revenue rose on an annual basis to 64.60 billion dong from 62.67 billion dong, and total operating expenses grew 9.8% from the prior-year period to 62.60 billion dong from 57.01 billion dong.

Reported net income decreased 45.9% from the prior-year period to 2.17 billion dong, or 146.00 dong per share, from 4.00 billion dong, or 269.60 dong per share.

As of May 18, US$1 was equivalent to 21,792.50 dong.