SBT: Explanation for business result in Q2/09

SOCIÉTÉ DE BOURBON TAY NINH (SBT) has explained business result in Q2/09 as follows:

Pre-tax profit in Q2/09 increased VND10.45 billion (equivalent to 34%) in comparison with that in Q1/09.

Reason:

- Gross profit rose VND10.65 billion (1)

- Reversal of financial provision: VND9.25 billion (2)

- However, financial income decreased VND10.10 billion (3)

(1): Selling price of sugar in Q2/09 was higher than that in Q1/09 that led to increase of sales. Ratio of gross profit and sales increased from 19% in Q1/09 to 23% in Q2/09.

(2): Reversal of financial provision led to decrease of financial expense in Q2/09

(3): Financial income decreased because interest income from farmers’ investment only arises in the harvesting seasons (Q1 and Q4 annually)

From the above reasons, after-tax profit in Q2/09 increased VND9.9 billion, equivalent to 34%.

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