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PIT: Explanation for business in quarter 3/2008
Petrolimex International Trading J.S Co. (PJTACO) explained that business fluctuation in quarter 3/2008 compared with quarter 2/2008 as follows:
- Profit before tax in quarter 3/2008: 8,867,248,657 dongs
- Profit before tax in quarter 2/2008: 13,989,465,849 dongs
- Change percentage (down): about 36.6% (equivalent to 5.1 billion dongs).
- Reasons of the profit decrease:
+ Sales of quarter 3/2008 decreased by 283 billion dongs (44.8%) in comparison with quarter 2/2008. + Gross profit decreased by 42% (equivalent 11.4 billion dongs) because of financial crises in the world, decreases of buying power and consumption power in agricultural product, metal materials and plastic pellets.
+ Financial income in quarter 3/2008 increased by 5.1 billion dongs in comparison with quarter 2/2008 because the company finalized interests of customers’ deferred payments which arose in quarter 2.
+ General and administrative expenses in quarter 3/2008 decreased by 1.3 billion dongs in comparison with quarter 2.
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