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CSM: Explanation for business result in quarter 1.2011
Explanation for business result in quarter 1.2011 of The Southern Rubber Industry Joint Stock Company:
BUSINESS RESULT
|
No. |
Items |
Quarter 1/2011 |
Quarter 1/2010 |
Change |
|
(1) |
(2) |
(3) |
(4) |
(5)=(3)-(4) |
(6)=(5)/(4)x100 |
|
1 |
Revenue |
663,271,956,091 |
618,354,628,362 |
44,917,327,729 |
7.26 |
|
2 |
Cost of goods sold |
620,191,182,409 |
516,023,245,613 |
104,167,936,796 |
20.19 |
|
3 |
Gross profit |
43,080,773,682 |
102,331,382,749 |
-59,250,609,067 |
-57.9 |
|
4 |
Financial incomes |
8,659,948,028 |
3,136,366,575 |
5,523,581,453 |
176.11 |
|
5 |
Financial expenses |
27,692,610,623 |
14,687,250,079 |
13,005,360,544 |
88.55 |
|
|
- Include: Interest expense |
16,259,267,175 |
12,606,035,213 |
3,653,231,962 |
|
|
6 |
Selling expenses |
10,570,435,629 |
31,019,520,249 |
-20,449,084,620 |
-65.92 |
|
7 |
General and administrative expenses |
4,868,788,883 |
19,154,023,647 |
-14,285,234,764 |
-74.58 |
|
8 |
Total profit before tax |
9,498,374,055 |
42,091,000,208 |
-32,592,626,153 |
-77.43 |
|
9 |
Current corporate income tax |
1,894,093,514 |
10,522,750,052 |
-8,628,656,538 |
-82 |
|
10 |
Profit after tax |
7,604,280,541 |
31,568,250,156 |
-23,963,969,615 |
-75.91 |
Explanation:
1. Gross profit decreased VND59.2 billion dongs and made profit decrease 57.9% because of the following reasons:
- Cost of goods sold increased VND104.2 billion dongs because price of natural rubbers was high in quarter1/2011 beside quarter 1/2010.
- Revenue increased VND44.9 billion dongs because sales volume increased.
2. Financial expenses increased VND13 billion because the company increased borrow loans and difference exchange rate
4. Selling expenses decreased VND20.45 billion because the company adjusted the commission plan
5. General and administrative expenses decreased VND14.2 billion dongs because the company saved external expenses, personnel expenses, etc.
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