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CAD: Explanation for business result in Q1.2011
Cadovimex Seafood Import-Export and Processing Joint Stock Company explained the fluctuation in revenue and profit in Quarter 1/2011 compared to Quarter 1/2010:
| |
Quarter 1/2010
(VND) |
Quarter 1/2011
(VND) |
Increase, decrease
(VND) |
Ratio |
| Net revenue |
181,665,943,945 |
37,467,527,237 |
-144,198,416,708 |
-76.43% |
| Profit after tax |
126,686,686 |
-9,505,259,077 |
(9,631,945,763) |
-7602% |
- Profit after tax in Quarter 1/2011 decreased 7,602% from Quarter 1/2010 because of main reasons as follows:
+ Quarter 1/2011, Cadovimex was short of materials. In Quarter 1/2011, the Company produced just 283 tons of finished products, while it produced 786 tons in Quarter 1/2011, so the volume decreased 63.99%, and this made revenue in Quarter 1/2011 down VND144,198,416,708 or 76.43%.
+ Doubtful debts have not been recovered, so the payment of bank interest in Quarter 1/2011 was VND9,411,625,317.
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