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ACL: Explanation for business result in QIII/2011
Cuu Long Fish JSC explained the fluctuation in profit after tax in QIII/2011 compared to QIII/2010:
By: VND
|
Item |
QIII/2010 |
QIII/2011 |
Difference |
|
Value |
Ratio |
|
Profit after tax |
4,589,241,408 |
32,065,216,844 |
27,475,975,436 |
|
|
Average price of Tra raw fish (VND/kg) |
16,584 |
24,970 |
8,386 |
51% |
|
Net revenue |
261,892,255,314 |
309,448,966,871 |
47,556,711,557 |
18% |
|
Cost of goods sold |
222,451,307,528 |
240,170,837,560 |
17,719,530,032 |
8% |
|
Gross profit |
39,440,947,786 |
69,278,129,311 |
29,837,181,525 |
76% |
|
Ratio of Cost of goods sold to Revenue |
84.94% |
77.61% |
|
-7% |
|
Selling price |
44,816 |
61,285 |
16,469 |
37% |
Compared to QIII/2010, ACL’s profit after tax in QIII/2011 increased VND27,475,975,436, mainly because of the increase in gross profit. Gross profit in QIII/2011 was VND29,837,181,525 higher than profit in QIII/2010 because of the following reasons:
• Revenue in QIII/2011 rose VND47,556,711,557 (+18%) against the same period of last year because price of Tra raw fish increased 51% and selling price also went up 37%
• Cost of goods sold in QIII/2011 increased VND17,719,530,032 (+8%) from QIII/2010. The increase ratio of cost of goods sold was lower than the increase ratio of revenue (10% lower), so ACL’s gross profit went up. Although price of Tra raw fish increased 51%, in QIII/2011 fish from the Company’s breeding area having been put into production accounted for 64% of Tra raw fish in the period. This made the cost of goods sold rise lowly.
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