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VHC: Explanation for business result in QII/2011
Vinh Hoan Corporation (HOSE: VHC) explained the fluctuation in profit before tax before auditing and after auditing in the financial statements of the first six months of 2011 as follows:
By: VND
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Before auditing |
After auditing |
Difference |
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Profit before tax |
VND229,613,994,340 |
VND236,759,449,517 |
+VND7,145,455,177 |
Reason:
The Corporation decreased the provision for returned goods. This made profit rise VND3,711,240,000.
The Corporation decreased the provision for inventory. This made profit go up VND7,907,077,674.
The Corporation decreased the import tax of commercial consignments which were not temporarily imported to re-export. This made the cost of goods sold increase and profit decrease VND4,353,307,580.
HOSE
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