VNM: Business result in Q3/08

Viet Nam Dairy Products Joint-Stock Company (VINAMILK) has explained business result in Q3/08 as follows:

Profit before tax in Q3/08 decreased 56.5 billion dongs compared to that in Q2/08 due to the following reasons:

- Gross profit reduced 17.6 billion dongs: increase of material prices.

- Selling expenses increased 64.5 billion dongs: the company pushed marketing activities, strengthened distribution network and promotion.

- Financial income increased 25 billion dongs: deducting for devaluation provision in Q3/08 decreased in comparison with that in Q2/08.

However, comparing to Q3/2007, profit before tax increased 70%, equivalent to 152 billion dongs and sales was up to 18.3%, equivalent to 337 billion dongs.

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