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OGC: Explanation for business results in the QIII/2011
Ocean Group JSC (HOSE: OGC) has explained profit decreased over 10% in QIII/2011 beside QIII/2010 as follows:
|
Items |
QIII/2011 |
QIII/2010 |
Difference |
|
VND |
% |
|
Net revenue |
120,668,220,367 |
221,964,022,674 |
(101,295,802,307) |
-46 |
|
Gross profit |
16,577,454,635 |
39,710,868,105 |
(23,133,413,470) |
-58 |
|
Financial income |
59,991,054,840 |
133,152,530,483 |
(73,161,475,643) |
-55 |
|
Financial expenses |
25,386,491,976 |
4,437,219,084 |
20,949,272,892 |
472 |
|
Selling expenses |
2,003,726,756 |
1,986,968,176 |
359,556,258 |
22 |
|
General & administrative expenses |
3,875,804,900 |
164,795,040,830 |
1,888,836,724 |
95 |
|
Net operating profit |
45,302,485,843 |
(728,045,466) |
(119,492,554,987) |
-73 |
|
Other profit |
(241,523,776) |
(728,045,466) |
486,521,690 |
-67 |
|
Profit before tax |
45,060,962,067 |
164,066,995,364 |
(119,006,033,297) |
-73 |
|
Current corporate income tax expenses |
75,647,267 |
41,198,760,273 |
(41,123,113,006) |
|
|
Profit after tax |
44,985,314,800 |
122,868,235,091 |
(77,882,920,291) |
-63 |
- Net revenue in QIII/2011 decreased 46% compared with in QIII/2010, mainly estate real business decreased because market situation flat. So gross profit in QIII/2011 decreased by VND23,133,413,470
- Financial income decreased compared with the same period last year by VND73,161,475,643 because in QIII/2010 the company has induced shares transfer. Financial expenses increased VND20,949,272,892 because the company extended activities business.
HOSE
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