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Mekong Fisheries Q1 profit falls YOY

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Mekong Fisheries Q1 profit falls YOY

Mekong Fisheries JSC said its normalized net income for the first quarter amounted to 48.72 dong per share, a decline of 68.4% from 154.14 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 484.9 million dong, a decline of 68.4% from 1.53 billion dong in the prior-year period.

The normalized profit margin dropped to 0.7% from 1.3% in the year-earlier period.

Total revenue declined 38.3% on an annual basis to 70.57 billion dong from 114.32 billion dong, and total operating expenses declined 38.1% from the prior-year period to 69.67 billion dong from 112.57 billion dong.

Reported net income decreased 65.6% on an annual basis to 656.9 million dong, or 66.00 dong per share, from 1.91 billion dong, or 192.00 dong per share.

As of April 15, US$1 was equivalent to 21,610 dong.