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VIS: Explanation for business fluctuation in quarter 3/2008
Viet Nam – Italy Steel J.S Co. (Viky Plastic Co.) announced business result in quarter 3/2008 as follows:
|
Items |
Unit |
Plan of 2008 |
Effectuation |
|
Quarter 3/2008 |
Quarter 2/2008 |
|
Total value of output |
million dongs |
2,146,204 |
250,086 |
698,927 |
|
Net sales |
million dongs |
2,044,004 |
352,210 |
480,606 |
|
Profit after tax |
million dongs |
19,765 |
43,292 |
28,429 |
|
Output |
tons |
172,570 |
23,381 |
50,217 |
|
Sales volume |
tons |
172,570 |
26,035 |
39,982 |
Total value of output reached 11.65% in comparison with annual plan and 35.78% in comparison with quarter 2/2008.
- Net sales reached 17.2% with annual plan and 73.28% with quarter 2/2008.
- Profit after tax reached 219% with annual plan and 152% with quarter 2/2008.
- Output reached 13.5% with annual plan and 46.5% with quarter 2/2008.
- Sales volume reached 15% with annual plan and 65% with quarter 2/2008.
- In comparison with quarter 2/2008, most of financial items dropped but profit after tax increased by 152% because of some reasons:
+ The beginning of quarter 3/2008, price of steel billets and finished steel increased highly. To July 2008, price of steel billets reached USD1,000/ a ton.
+However, at the end of quarter 2/2008 the company reserved amount of steel billets and finished steel that were for production and sale with low prices in quarter 3/2008. Though sales volume in quarter 3/2008 wasn’t high, the company sold out steels in stock in July and August which was inventories of previous quarter and sold newest steel with a average price about 17.5 million dongs / a ton.
+ In the middle of August 2008, price of steel billets was down. To September 2008, price of steel billets dropped strongly but its decrease was faster than the price of finished steels. At the end of quarter 3/2008, the company sold most of inventories and put steel with low price in stock for sale in quarter 4/2008. It ensures that the company will reach profit in quarter 4/2008 as in plan.
HoSE
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