Tuesday, 06/09/2011 22:59

DIC: Explanation for business result in QII/2011

DIC Investment and Trading JSC (HOSE: DIC) explained differences in the consolidated financial statements in QII/2011 compared to QII/2010:

 

QII/2011

QII/2010

Difference

Ratio

Net revenue

264,782,714,546

 236,601,175,998

28,181,538,548

111.91%

Profit after tax

4,408,683,803

 6,459,517,766

-2,050,833,963

68.25%

Cumulative net revenue

474,726,696,833

 470,027,250,744

4,699,446,089

101.00%

Cumulative profit

11,829,255,612

 10,957,066,458

872,189,154

107.96%

Net revenue in QII/2011 was higher than in QII/2010 but profit after tax in QII/2011 was equal to just 68.25% from the same period of last year

Reason: The macroeconomic policy in 2011 has more changes, especially about monetary policy. Bank interest rates increased more than 40% compared to year 2010, which pushed the Company’s financial expense increase highly and made the consolidated profit in this Qdecrease. However, the cumulative profit of the first six months of 2011 was still higher than the same period of 2010.

HOSE

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