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Hanoi HaiDuong Beer Q1 profit falls YOY

Hanoi HaiDuong Beer JSC said its first-quarter normalized net income came to 820.8 million dong, a fall of 46.6% from 1.54 billion dong in the year-earlier period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin fell to 6.2% from 10.2% in the year-earlier period.

Total revenue declined 11.7% on an annual basis to 13.27 billion dong from 15.04 billion dong, and total operating expenses declined 8.7% year over year to 12.45 billion dong from 13.63 billion dong.

Reported net income totaled 1.02 billion dong, compared with 1.86 billion dong in the prior-year period.

As of April 24, US$1 was equivalent to 21,595 dong.