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CMC: Explanation for change over 5% in results in QII- 2009
CMC Investment JSC explained the change over 5% in operating results in QII/ 2009 as follows:
1. Revenue:
- Revenue in QII/2009 increased 408.78% compared to QI/2009 because the Government supported interest for constructions. Company had imported new machines and expanded market which made the revenue increase.
- Financial income in QII/2009 increased 275.35% compared to QI/2009 because the stock market in QII/2009 was good, company had restructured investment and got profit from some stocks
- Other income in QII/2009 decreased 98.52% compared to QI/2009 because company sold old machines
2. Expenses:
- Cost of goods sold in QII/2009 increased 440.79% compared to QI/2009 because revenue in QII/2009 increased.
- Expenses in QII/2009 decreased 563.26% compared to QI/2009 because the money from the sale of old machines was used to pay principal and interest, and some stocks were sold to restructure investment. In QII/2009, stock market increased, so the company got back the provision of VND 5,415,417,000.
- Selling expenses in QII/2009 increased 202.99% compared to QI/2009 because company had imported many new and suitable machines.
- General and administration expenses in QII/2009 increased 28.26% compared to QI/2009. However, from the company’s assessment, general and administration expenses was under control.
3. Profit:
- Profit in QII/2009 increased 2,048.87% compared to QI/2009 because the Company got back provision of VND 5,415,417,000 and Operating profit was VND 2,005,002,101
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