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HNM: Explanation for the change of over 5% in operating income in QIII- 2008
According to the Financial Statement Quarter III/2008, revenue is VND 113,687,279,088, net income is VND 821,886,391 with the decrease of 16.6% and 79.1% respectively compared to Quarter II/2008. Hanoimilk JSC explained the decrease in operating income in QIII/ 2008 as follows:
- Hanoimilk JSC is a diary company with liquid diary products as major ones. Average revenue in Quarter II was VND 45.4 billion while that of July and August was VND41.8 billion. In addition, revenue in September only reached VND 29.9 billion because of the mid-Autumn Festival.
- Selling expenses in Quarter III were VND 26,657,077,369 with an increase of VND 2,842,840,760 (11.9%) compared to Quarter III because Hanoimilk was spending more on advertising a new product. On the occasion of Mid-Autumn Festival and New school year in September, more gifts and promotion campaign was given to children as small customers.
- In Quarter III, Hanoimilk disposed some fixed assets, which resulted in a loss of VND 1,625,957,988 in other income.
HaSTC
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