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BBC: Explanation for business result in Q2
BIBICA Corporation (BIBICA) has explained business result in Q2/08 as follows:
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|
Q1/2008 |
Q2/2008 |
Difference |
Rate |
|
Net sales |
131,404,456,734 |
100,302,574,169 |
(31,101,882,565) |
-23.67% |
|
Profit before tax |
8,116,120,554 |
(11,519,732,083) |
(19,635,852,637) |
-241.94% |
|
Financial expenses |
500,572,217 |
22,047,277,243 |
|
|
|
Interest payment |
499,529,011 |
2,268,556,850 |
1,769,027,839 |
354.14% |
|
Devaluation provision |
0 |
19,623,882,755 |
19,623,882,755 |
|
|
Difference of exchange rate |
1,043,206 |
154,837,638 |
153,794,432 |
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Revenue in Q2/08 decreased compared to that in Q1/08 because it was not seasonal trade of the company.
Increase of financial expenses due to the following reasons:
- Investment portfolio of the company includes listed and unlisted stocks on the Exchange. Due to the difficult time of the securities market, it deducted for devaluation provision of VND19,623,882,755 which was based on the referred stock prices by 30/06/2008.
- Exchange rate of dong and dollar was high thus, difference of this rate in Q2/08 against Q1/08 was VND153,794,432.
HoSE
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