LAF: Explanation for business result in Q1/08
Long An Food Processing Export Joint Stock Company (LAFOOCO) has explained business result in Q1/08:
Unit: mil dongs
|
Items |
Q1/2008 |
Q4/2007 |
Q1/2007 |
|
Net revenue |
90,448,659,585 |
175,584,892,686 |
95,439,004,151 |
|
Profit before tax |
7,456,343,066 |
14,192,691,234 |
(3,644,389,715) |
Q1/08 vs. Q4/07:
Net revenue decreased 48.48%
Profit before tax decreased 47.46%
Reasons:
In Q1/08, there was Tet holiday that led to decrease of output.
Major revenue of the company is export (95%) and payment is in USD, however, exchange rate was significantly declined in Q1/08. Thus, revenue and profit reduced.
Distribution profit is done in Q4 annually.
HoSE
