DRC: Explanation for business result in Q1/2009
DaNang Rubber Joint Stock Company (DRC) has explained business result in Q1/2009 as follows:
* Profit after tax in Q4/08: VND1,924,318,508
* Profit after tax in Q1/09: VND30,906,988,717
Profit in Q4/08 increased VND28,982,670,209 compared to that in Q4/08
(Unit: VND) |
QI/2009 |
QIV/2008 |
Difference |
Sales |
368,001,531,101 |
267,744,419,587 |
100,257,111,514 |
COGS |
287,981,430,235 |
230,495,833,958 |
57,485,596,277 |
Financial income |
911,080,031 |
4,939,414,321 |
(4,028,334,290) |
Financial expenses |
14,158,343,074 |
20,044,472,503 |
(5,886,129,429) |
Selling expenses |
9,678,304,543 |
8,042,742,991 |
1,635,561,552 |
Management expenses |
15,895,727,530 |
4,943,812,573 |
10,951,914,957 |
* Sales increased by VND100,257,111,514 but COGS only increased VND57,485,596,277
- Decrease of prices of natural rubber and chemical
- Decrease of financial income and expenses: Loan interest rate and exchange rate (USD) reduced in Q1/09
* Sales increased VND100,257,111,514 but expenses only increased VND1,635,561,552
- In Q4/08, the company strengthened promotion expenses thus it cut spending in Q1/09
- Mangement expenses increased VND10,951,914,957
- Increase of spending on salary and depreciation.
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