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Southern Rubber Industry Q2 profit climbs 16.1% YOY

Southern Rubber Industry JSC said its second-quarter normalized net income came to 815.06 dong per share, an increase of 16.1% from 702.22 dong per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 84.46 billion dong, an increase of 16.1% from 72.77 billion dong in the year-earlier period.

The normalized profit margin fell to 6.7% from 9.3% in the year-earlier period.

Total revenue increased 60.1% on an annual basis to 1.256 trillion dong from 784.12 billion dong, and total operating expenses climbed 65.5% on an annual basis to 1.086 trillion dong from 656.45 billion dong.

Reported net income rose 16.1% from the prior-year period to 105.41 billion dong, or 1,017.20 dong per share, from 90.80 billion dong, or 876.17 dong per share.

As of July 20, US$1 was equivalent to 21,823.50 dong.