July 26, 2012

Vietnamese HVG's Q2 net profit down 52.9%

In the second quarter of this year, Hung Vuong Group (HVG) said it made a consolidated net profit of VND60.74 billion (US$2.89 million), an on-year drop of 52.9%.

Revenues dropped 9.1% on year to VND1.86 trillion (US$89 million), according to a quarterly financial statement. Those from financial activities shrank 86.9% to VND6.86 billion (US$329,000).

As a result, the seafood exporter made a net profit of VND182.25 billion (US$8.7 million) on revenues of VND3.67 trillion (US$176 million) in January-June, down 22.45% and 3.67% on year, respectively.

The six-month earnings per share are VND2,761 (US$0.13), versus VND3,565 (US$0.17) in the first half last year.

Its total assets were VND6.18 trillion (US$296 million), including equity of VND2.15 trillion (US$103 million) at end-June.