|
VTC: Explanation for business activities in quarter 3/2008
Below is explanation of Telecommunications Joint Stock Company (VTC) for the downturn of business operation in quarter 3/2008:
1) Due to downturn in good sales and trading:
* Due to lack of cash for payment and high lending rates from commercial bank, the company decided to limit trading activities so as to limit trading risks.
* In this quarter, the demand for low value pre-paid phone cads increased compared to normal pre-paid cards. Thus, the production of phone card increased by 3,296,555 cards, equivalent to 17.54%; however, the revenue decreased by 36.45% against quarter 2/2008.
2) Due to the increase of in put expenses:
* Interest expenses increased a lot, an increase of 41.4% compared to that of quarter 2
* Foreign exchange rate fluctuation caused losses of 98,721,405 dongs in imported contracts.
HoSE
|
