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Investment Commerce Fisheries Q2 profit falls YOY

Investment Commerce Fisheries Corp. said its second-quarter normalized net income amounted to 2.81 dong per share, a decrease of 97.2% from 100.78 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 36.0 million dong, a decrease of 97.2% from 1.29 billion dong in the year-earlier period.

The normalized profit margin declined to 0.1% from 1.9% in the year-earlier period.

Total revenue decreased 60.4% year over year to 27.17 billion dong from 68.60 billion dong, and total operating expenses fell 61.0% from the prior-year period to 24.65 billion dong from 63.30 billion dong.

Reported net income decreased 97.4% from the prior-year period to 51.2 million dong, or 4.00 dong per share, from 1.97 billion dong, or 153.90 dong per share.

As of July 23, US$1 was equivalent to 21,817.50 dong.