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PAC: Explanation for business result in Q1.2011
Dry Cell and Storage Battery Joint Stock Company (PINACO) (HOSE: PAC) explained the fluctuation in business result in Qaurter 1/2011 compared to Quarter 1/2010:
|
No. |
Item |
Quarter 1/2011 |
Quarter 1/2010 |
Difference |
|
1 |
2 |
3 |
4 |
5=3-4 |
6=5/4*100 |
|
1 |
Net revenue |
574,230,565,982 |
333,647,092,351 |
240,583,473,631 |
72.11% |
|
2 |
Cost of goods sold |
439,377,307,171 |
268,800,006,348 |
170,577,300,823 |
63.46% |
|
3 |
Gross profit |
134,853,258,811 |
64,847,086,003 |
70,006,172,808 |
107.96% |
|
4 |
Financial income |
6,486,564,354 |
7,914,683,624 |
(1,428,119,270) |
-18.04% |
|
5 |
Financial expense |
42,639,216,375 |
17,912,878,223 |
24,726,338,152 |
138.04% |
|
6 |
Selling expense |
51,154,128,981 |
17,848,165,356 |
33,305,963,625 |
186.61% |
|
7 |
Administrative expense |
17,642,721,982 |
9,903,127,911 |
7,739,594,071 |
78.15% |
|
8 |
Profit from business operations |
29,903,755,827 |
27,097,598,137 |
2,806,157,690 |
10.36% |
|
9 |
Other profits |
318,183,655 |
4,275,419 |
313,908,236 |
7342.16% |
|
10 |
Profit before tax |
30,221,939,482 |
27,101,873,556 |
3,120,065,926 |
11.51% |
|
11 |
Profit after tax |
26,271,168,626 |
23,713,604,934 |
2,557,563,692 |
10.79% |
In Quarter 1/2011, PINACO had more advantages and its sales increased VND240 billion (equivalent to 72%) from Quarter 1/2010, while the cost of goods sold in Quarter 1/2011 rose VND170 billion (equivalent to 63%), an increase lower than the increase of sales. Therefore, this is the main reason causing the profit in Quarter 1/2011 to rise 11% from Quarter 1/2010.
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