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BVS: Explanation for change of over 5% in operating result in QIV- 2009
Bao Viet Securities Company explained the decrease in operating result in QIV/ 2009 compared to Quarter III/2009:
|
No. |
Items |
Quarter III/2009 |
Quarter IV/2009 |
Change (%) |
|
1 |
Total income |
109,355,042,960 |
91,232,176,633 |
16.6% |
|
|
Operating income |
100,657,437,085 |
83,690,753,595 |
-16.9% |
|
|
Financial income |
|
|
|
|
|
Other income |
8,229,601,546 |
7,538,818,884 |
-8.4% |
|
|
External income |
468,004,329 |
2,604,154 |
-99.4% |
|
2 |
Total expenses |
(3,155,357,317) |
112,424,928,892 |
-3663.0% |
|
2.1 |
Operating expenses |
(19,051,822,779) |
90,491,930,954 |
-575.0% |
|
|
Of which: - Provision for decrease of stock prices |
(42,673,178,760) |
75,009,870,417 |
-275.8% |
|
2.2 |
Administrative expenses |
15,807,647,910 |
21,931,703,538 |
38.7% |
|
2.3 |
Other expenses |
88,817,552 |
1,294,400 |
-98.5% |
|
3 |
Profit before tax |
112,510,400,277 |
(21,192,752,259) |
-118.8% |
|
4 |
Income tax |
|
|
|
|
5 |
Profit after tax |
112,510,400,277 |
(21,192,752,259) |
-118.8% |
|
6 |
Earnings per share |
2,500 |
(471) |
-118.8% |
According to the financial statement, the Company lost VND21.2 billion in QIV/2009, an decrease of 118% compared to QIII/2009. The reasons are as follows:
- Trading value and trading volume in both HOSE and HNX decreased sharply compared to QIII. Accordingly, total revenue of the Company fell by VND18.1billion, mainly in brokerage, issue underwriting and proprietary dealing.
- In terms of operating expenses, in QIII, the Company did not have to set up more provision for stock price decrease and even wrote back VND42.7 billion. In QIV, the Company had to set up a provision of VND 75 billion on 31/12/2009. As a result, the total expenses increased.
- In administrative expenses, the wages increased as approved by the BOD. External expenses increased due to the 10 years’ anniversary of the Company.
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