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PIT: Explanation for difference in consolidated FS of H2/2010
Petrolimex International Trading Joint Stock Company (HoSE: PIT) has explained business result between of 09 months 2010 and the statement of 09 months 2009 as follows:
* Profit before tax in 09 months 2009: VND10,424,206,392
* Profit before tax in 09 months 2010: VND17,009,272,927
* Decreasing: 6.585 million (Equivalents 63.17%)
* Reason:
+ Gross profit increased 52.320 million because the company increased revenue and decreased cost of goods sold
+ Financial incomes decreased 5.451 million, financial expenses increased 22,861 miliion because the company was not assisted in bank interest.
+ Selling expenses increased 6.736 million, general and administrative increased 10.671 million because sales increased and other incomes decreased 16 million.
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