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S99: QII/2011 Operating explaination
According to the Financial Statement Quarter II/2011, the operating result decreased over 10% in compare to Quarter II/2010. Song Da No.9.09 JSC (HNX: S99) explained the decrease in operating result in QII/2011 as follows:
By VND
|
Items |
QII/2011 |
QII/2010 |
First 6 months of 2011 |
First 6 months of 2010 |
|
Total of net income |
30,615,775,999 |
15,112,094,730 |
47,725,734,937 |
60,234,892,639 |
|
Total of business expenses |
36,313,485,753 |
2,240,857,798 |
52,540,005,124 |
45,055,115,365 |
|
Accounting profit (loss) before tax |
-5,697,709,754 |
2,871,236,932 |
-4,814,270,187 |
15,179,777,274 |
- Prices of materials, fuel, accessories and etc increased 20% in compare to the same period of 2010 and the increase of minimum salary. Therefore, cost of QII/2011 went up;
- Increase of financial expenses: Banking interest were 20%/year for average floating capital borrow and 24%/year for medium-term borrow that made banking borrow increase over 50%; Inventory is over VND billion 50 and receivables is over VND billion 55 (Over 100% of owners’ equity);
- The securities market decreased with a half prices of buying prices in the end of 2010. The company had to establish the fund of decrease of securities prices over VND billion 6 for compensating the lost of securities short-term investment (Over VND billion 12.)
HNX
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