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SAM: Business result in Q3/08
Cables and Telecommunications Material Joint Stock Company (SACOM) has explained business result in Q3/08 as follows:
* Sales decreased VND227,611,783,633
* Profit before tax increased VND269,722,405,395
Reasons:
* Vietnam economy in Q3/08 was unstable and faced the issues such as high inflation; fluctuation of foreign exchange rate of USD/VND…Thus, the government had policies to stabilize the economy by restricting the public investment portfolio, in which there were products belonging to SACOM. This directly affected production of the company.
* Profit before tax significantly increased in Q3 because the company reimbursed the devaluation provision of financial investment with the amount of VND115,536,375,000. Therefore, profit before tax in Q3 was VND156,184,526,736.
* Sales rapidly decreased in Q3/08 because the whole economy had difficulties in this period.
HoSE
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