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BMI: Explanation for business result in QIII/2011
Baominh Insurance Corporation (HOSE: BMI) has explained the fluctuation in business result in QIII/2011 compared to QIII/2010:
By: Million dongs
|
QIII/2011 |
QIII/2010 |
Comparison (%) |
|
A |
1 |
2 |
3=1/2 |
|
Net revenue |
405,231 |
367,019 |
110.41% |
|
Selling expense |
282,100 |
256,795 |
109.85% |
|
Administrative expense |
127,717 |
110,117 |
115.98% |
|
Net operating profit |
(4,586) |
107 |
0.00% |
|
Financial profit |
13,985 |
20,361 |
68.69% |
|
Profit before tax |
9,502 |
20,480 |
46.40% |
|
Profit after tax |
(561) |
17,679 |
|
- Net revenue in QIII/2011 increased 10.4% against QIII/2010, while total selling expense rose 9% and administrative expense rose 15.9%. Expenses went up because of difficulties of economy, inflation, costs.
- In QIII/2011, the Company had net operating loss of VND4,856 million compared to VND107 million in QIII/2010 because the growth speed of expenses was higher than revenue.
- Financial profit in QIII/2011 decreased 31.31% over QIII/2010 because the Company increased the provision for investments, so the financial expense rose highly.
- Total profit in QIII/2011 went down because net operating profit and financial profit failed. The Company also had loss after tax because the cumulative income tax payable increased.
HOSE
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