Tuesday, 07/12/2010 18:29

VMD: Explanation for business results in quarter 3/2010

Vimedimex Medi-Pharma Joint Stock Company (VIMEDIMEX) (HOSE: VMD) has explained profit before tax in quarter 3/2010 decreased 1.77 billion dongs (19.59%) beside quarter 3/2009 as follows:

• Net revenue increased 16.55% (222.7 billion dongs) and cost of goods sold increased 16.87% (204.91 billion dongs) because revenue from exporting medicine, material, equipments and chemical for tests (Holding 80% of total net revenue) increased 10% and exchange rate of USD also increased (exchange rate at 17,840 VND/USD in September 2009 and at 19,500 VND/USD at September 2010).

• Gross profit increased 13.58% (17.78 billion dongs) but net revenue increased 16.55% and cost of goods sold increased 16.87% because the company could not adjust prices of products supplied to hospitals and other companies (Exchange rate at 19,100 VND/USD in July 2010 and at 19,500 VND/USD at September 2010).

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