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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