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BLF: Explanation for operating income in QIII - 2008
According to the Financial Statement Quarter III/2008, the Company suffered a loss of VND 5,830,474,789. Bac Lieu Fisheries JSC explained the loss in operating income in QIII/ 2008 as follows:
- Operating expenses increased because interest expenses were higher.
- Due to the money tightening policy, disbursement procedure of some commercial banks was totally based on the liquidity of banks. As a result, the Company could not determine the input price and financial operations on its own initiative to decrease expenses.
- Deduction in sales was $122,419.41 equaling VND 2,020,534,556 due to loss, wrong weight in products sold to American and Japanese customers.
- Direct labor expenses increased by 35% compared to Quarter II.
HaSTC
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