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SAV: Explanation for business result in Q2/08
Savimex Corporation (SAVIMEX) has explained business result in Q2/08 as follows:
|
|
QI-2008 |
QII-2008 |
Difference |
QII/QI-2008 |
|
1 |
2 |
3 |
4 = 3 – 2 |
5 |
|
Sales |
85,523,124,197 |
78,765,377,655 |
(6,757,746,542) |
- 7.90% |
|
In which: sales of export |
59,500,553,495 |
53,798,267,637 |
(5,702,285,858) |
- 9.58% |
|
Total sales
|
89,800,136,630 |
84,070,194,017 |
(5,729,942,613) |
- 6.38% |
|
Profit before tax |
3,096,783,589 |
1,734,336,954 |
(1,362446,635) |
- 44.00% |
Profit before tax in Q2/08 decreased 44% (equivalent to VND1,362,446,635) compared to that in Q1/08.
Reasons:
The main customer of SAVIMEX is Japanese and this market is the seasonal one so revenue in Q2 is usually low. In addition, the company has just expanded to the US market thus orders in Q2/08 were still low. It is expected to increase export in Q3 and Q4.
Exporting orders were signed at the beginning of the year, meanwhile input expenses have increased rapidly so far. Therefore, this affected product prices.
Increase of bank interest.
HoSE
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