July 31, 2018 / 4:50 AM / 3 months ago

Vietnam's Vingroup H1 net profit falls 11.5 pct y/y

HANOI, July 31 (Reuters) - Vingroup, Vietnam’s top firm by market valuation, said on Tuesday first-half net profit fell 11.5 percent from a year earlier to 1.65 trillion dong ($70.89 million).

Total revenue jumped 73.6 percent to 61.2 trillion dong, according to the financial statements filed to the exchange.

The company recorded a loss of 44 billion dong for its joint venture and affiliated companies, compared with a 15 billion dong profit in the same period last year.

For the second quarter, Vingroup posted a 63 percent jump in revenue but a 52.9 percent drop in net profit, with losses in its affiliate and joint venture firms. ($1 = 23,275 dong) (Reporting by Mai Nguyen; Editing by Subhranshu Sahu)

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