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SHI: Explanation for business result in Q2/2010
Son Ha International Corporation has explained business result in Q2/2010 as follows:
1. Business result in Q2/2010:
* Sales: Q2/2010, the Son Ha Industrial one-member limited company run stably. In addition, export of the Son Ha International Corporation increased due to recovery of the world economy. Sales rose 98.43%.
* Prime cost: prime cost increased 104.2% compared to Q2/2009 because material price rose 2% - 4%.
* Financial expenses: From Q1/2010, there has been no policy of supporting 4% of interest rate for liquid loans. Thus, financial expenses was higher than Q2/2009.
* Expenses: Increase of expenses in Q2/2010 was caused by increase of sales. Expenses of selling products rose 144% due to promotion programs in distribution channels.
2. Fluctuation in the cash flow statement:
* Cash inflow from business activities: Increase of profit in Q2/2010 and time extension of accounts payable
* Cash inflow from investment activities: In Q2/2010, the company withdrawn capital from an association company.
* Cash inflow from financial activities: In Q2/2010, financial income increased compared to Q2/2009 because the company rose loans from issuing bonds at face value of VND50,000,000,000.
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