OGC: Explanation for business results in the QII-2011
Ocean Group JSC (HOSE: OGC) has explained profit decreased over 10% in QII-2011 beside QII-2010as follows:
Items |
QII-2011 |
QII-2010 |
Difference |
VND |
% |
Net revenue |
169,217,556,946 |
232,287,776,019 |
-63,070,219,073 |
-27% |
Gross profit |
26,242,652,499 |
79,216,061,701 |
-52,973,409,202 |
-67% |
Financial income |
100,826,041,421 |
19,434,018,572 |
81,392,022,849 |
419% |
Financial expenses |
15,590,828,625 |
3,266,302,134 |
12,324,526,491 |
377% |
Selling expenses |
1,566,015,601 |
2,085,813,764 |
-519,798,163 |
-25% |
General & administrative expenses |
3,096,963,452 |
2,777,768,466 |
319,194,986 |
11% |
Net operating profit |
106,814,886,242 |
90,520,195,909 |
16,294,690,333 |
18% |
Other profit |
-22,757,614 |
95,810,148,739 |
-95,832,906,353 |
-100% |
Profit before tax |
106,814,886,242 |
90,520,195,909 |
-79,538,216,020 |
-43% |
Current corporate income tax expenses |
7,453,721,561 |
46,615,584,552 |
-39,161,862,991 |
-84% |
Profit after tax |
99,338,407,067 |
139,714,760,096 |
-40,376,353,029 |
-29% |
- Net revenue in QII-2011 decreased 27% compared with in QII-2010, mainly estate real business decreased because market situation flat. So gross profit in QII-2011 decreased by VND52,973,409,202.
- Financial income increased compared with the same period last year by VND81,392,022,849, because the company has received dividend by VND77 billion from related company of Ocean Commercial Joint - Stock Bank. Financial expenses increased VND12,324,526,491 because the company extended activities business.
- Other profit decreased by VND95,832,906,353
- Profit from operating profit decreased VND79,538,216,020 compared with the same VND39,161,862,991 and VND40,376,353,029.
HOSE
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