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Thanh Cong Textile Garment Investment Q1 profit falls YOY

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Thanh Cong Textile Garment Investment Q1 profit falls YOY

Thanh Cong Textile Garment Investment Trading JSC said its first-quarter normalized net income was 430.09 dong per share, a decrease of 13.3% from 496.07 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 22.17 billion dong, a decline of 13.3% from 25.57 billion dong in the year-earlier period.

The normalized profit margin fell to 3.6% from 4.0% in the year-earlier period.

Total revenue decreased 5.2% on an annual basis to 609.14 billion dong from 642.34 billion dong, and total operating expenses declined year over year to 563.81 billion dong from 589.96 billion dong.

Reported net income fell 10.2% on an annual basis to 33.53 billion dong, or 650.32 dong per share, from 37.35 billion dong, or 724.40 dong per share.

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