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VIT: Business operational explanation
According Financial Statement QIII.2011, operating result of the company decreased by over 10% year on year. Viglacera Tien Son JSC (HNX: VIT)explained for the decrease in operating result in QIII.2011 as follows:
Profit before tax QIII/2011: VND (3,148,150,062)
Profit before tax QIII/2010: VND 8,760,806,558
- Due to sluggishness of real estate market, there were difficulties in consumption of products and realized revenue only gained 82.8 % of plan
- Price of stone coal increased by 18% compared to Quarter II.2011 and 52.3 % compared to QIII.2010 while price of output products hadn’t risen because the real estate market was nearly frozen
- Borrowing interest increased by 27% year on year which made cost of the whole product also increase.
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