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Duc Thanh Wood Processing Q4 profit climbs 12.4% YOY

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Duc Thanh Wood Processing Q4 profit climbs 12.4% YOY

Duc Thanh Wood Processing JSC said its normalized net income for the fourth quarter came to 1,347.63 dong per share, an increase of 5.8% from 1,273.18 dong per share in the fourth quarter ended Jan. 1, 2016.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 17.94 billion dong, an increase of 12.4% from 15.96 billion dong in the fourth quarter ended Jan. 1, 2016.

The normalized profit margin dropped to 18.4% from 18.9% in the year-earlier period.

Total revenue climbed 15.0% on an annual basis to 97.34 billion dong from 84.62 billion dong, and total operating expenses grew 19.0% on an annual basis to 70.84 billion dong from 59.51 billion dong.

Reported net income grew on an annual basis to 42.05 billion dong, or 3,159.35 dong per share, from 15.07 billion dong, or 1,202.17 dong per share.

For the year, the company's normalized net income totaled 4,087.62 dong per share, an increase of 12.2% from 3,644.42 dong per share in the prior year.

Normalized net income was 58.35 billion dong, an increase of 16.0% from 50.29 billion dong in the prior year.

Full-year total revenue grew 9.4% on an annual basis to 323.65 billion dong from 295.77 billion dong, and total operating expenses increased 8.6% on an annual basis to 239.08 billion dong from 220.22 billion dong.

The company said reported net income grew 73.1% on an annual basis to 95.93 billion dong, or 6,720.00 dong per share, in the full year, from 55.41 billion dong, or 4,015.68 dong per share.

As of March 31, US$1 was equivalent to 22,755 dong.