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DQC: Explanation for business result in Q2
DIEN QUANG LAMP JOINT STOCK COMPANY (DQ JSC) has explained business result in Q2/08 as follows:
- Sales in the first 6 months 2008 did not reach the target, especially as the export market (it only gained 5.57% of plan) due to the following reasons:
Some export markets have just been opened at the end of 2007. At the beginning of 2008, the company has been imposed anti-dumping tax affecting competition of products.
Cuban market: the company has stopped exporting products to this market due to its late payment.
Change of exchange rate has caused difficulties of signing contracts with partners.
Registering quality standard in exporting markets has taken long time compared to the initial plan of the company.
- Expenses and profit:
Inputing expenses increased in Q2/08 compared to that in Q1/08 and the same period 2007. Meanwhile, the company could not adjust selling price of products under policy of the government.
Total debt in the Cuban market till 30/06/2008 was VND851 billion, in which overdue debt (about 2 months) was VND367 billion. At present, the company associates with Vietnam and Cuban officials to collect debt.
HoSE
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