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IMP: Profit in the first 6 months 2010
Imexpharm Pharmaceutical Joint Stock Company has explained profit in the first 6 months 2010 as follows:
Profit in the first 6 months increased more than 10% compared to the same period 2009 with the following reasons:
* Net sales increased 0.94% or VND2.95 billion; gross profit increased 12.03% or VND16.74 billion. The company restructured its products with high value, increasing Imexpharm-branded products more than authorized products and reduced product price reasonably.
* Financial income rose 159.67% because of earning VND1.47 billion of dividend from securities investment and VND1 billion from selling O2TV shares. Financial expenses increased 32.48% or VND1.32 billion due to payment of loan interest to bank.
* Selling expenses increased 10.6% or VND9.3 billion due to introduction of new Imexpharm-branded products.
* Other income increased 100.9% or VND1.35 billion due to decrease of material price from suppliers.
* Expenses of corporate income tax increased 160.18% because the time of 50% tax deduction for listing stock on HOSE had been ended.
With the above reasons, after-tax profit in the first 6 months 2010 increased VND5.15 billion or 15.22% compared to the same period 2009.
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