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VID: Explanation for profit difference in quarter 2/2009
Vien Dong Paper Joint Stock Company (VIDON) has explained the 5% fluctuation of business result as follows:
1. Revenue in quarter 2/2009 increased 10.5% in comparison with that in quarter 1/2009 because:
- The Government’s stimulus policy promoted its effect.
- Production increased over 10% because the company adjusted the product list and focused profitability product.
2. Main material prices were more stable than that in quarter 1/2009 and the company raised the control of produce expenses. Therefore, cost of goods sold just increased 7% and lower than the increase rate of revenue and production.
3. According to the state of securities market and the 2009 targets, the company adjusted some lists of financial investments.
Finally, the profit after tax in quarter 2/2009 increased 14.5% in comparison with that in quarter 1/2009.
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