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TYA: Explanation for business result in Quarter 1/2011
Taya (Vietnam) Electric Wire and Cable Joint Stock Company (HOSE: TYA) explained the difference in business results between Quarter 1/2011 and Quarter 1/2010:
| |
Quarter 1/2011 |
Quarter 1/2010 |
Increase/ Decrease |
% |
| Net revenue |
350,454,992,024 |
230,613,202,830 |
119,841,789,194 |
51.97% |
| Operating profit |
46,054,040,782 |
24,619,481,757 |
21,434,559,025 |
87.06% |
| Selling expense |
4,673,855,566 |
4,349,330,559 |
324,525,007 |
7.46% |
| Administrative expense |
5,791,942,765 |
5,598,691,280 |
193,251,485 |
3.45% |
| Financial expense |
59,311,086,424 |
17,665,285,187 |
41,645,801,237 |
235.75% |
Including:
Loss from exchange rate difference |
54,709,581,032 |
14,026,572,476 |
40,683,008,556 |
290.04% |
| Loan interest |
4,601,505,392 |
3,638,712,711 |
962,792,681 |
26.46% |
| Profit after tax |
-15,056,506,633 |
(132,619,979) |
-14,923,886,654 |
- |
Compared to Quarter 1/2010, revenue from selling in Quarter 1/2011 increased 51.97%, and operating profit in Quarter 1/2011 increased 87.06%, but other expenses in Quarter 1/2011 such as selling expense worth about VND4.6 billion, administrative expense worth VND5.7 billion, were not much different from the same period of 2010. Besides, because of slippage in prices about 9.3% on February 11, 2011 (From VND18,932/ US$1 to VND20,673/US$1), the Company had to set up a loss for exchange rate worth about VND54.7 billion, and this made profit after tax in Quarter 1/2011 lost VND15 billion.
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