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PAC: Explanation for business result in Q3/2011
Dry Cell and Storage Battery JSC (HOSE: PAC) explained the fluctuation in profit after tax in Quarter 3/2011 compared to Quarter 3/2010:
By: VND
|
No. |
Item |
Quarter 3/2011 |
Quarter 3/2010 |
Difference |
|
1 |
2 |
3 |
4 |
5=3-4 |
6=5/4*100 |
|
1 |
Net revenue |
456,988,797,528 |
422,645,278,125 |
34,343,519,403 |
8% |
|
2 |
Cost of goods sold |
379,041,338,001 |
313,006,854,403 |
66,034,483,598 |
21% |
|
3 |
Gross profit |
77,947,459,527 |
109,638,423,722 |
(31,690,964,195) |
-29% |
|
4 |
Financial income |
3,409,744,530 |
5,256,319,257 |
(1,846,574,727) |
-35% |
|
5 |
Selling expense |
40,362,823,648 |
13,345,904,930 |
27,016,918,718 |
202% |
|
6 |
Profit after tax |
15,818,739,333 |
54,191,145,325 |
(38,372,405,992) |
-71% |
- PAC’s profit after tax in Quarter 3/2011 decreased VND38,372,405,992, equivalent to 71%, from Quarter 3/2010 because of the following reasons:
+ Prices of materials and other expenses have increased highly and made the cost of goods sold in Quarter 3/2011 rise VND66,034,483,598 from the same period of last year. And, this is the main reason causing the decrease in profit
+ The Company had to pay money for Dong Nai 2 Battery Factory project, so the financial income decreased VND1,846,574,727
+ As the buying power of the market has decreased because of economic regression, the Company had to push promotion and support distributors, so its selling expense went up VND27,016,918,718.
HOSE
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