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VHG: Explanation for business result in Quarter 4/2011
Viet - Han Corporation explained the fluctuation in business results between Quarter 4/2011 and Quarter 4/2010:
- Subsidiary Que Viet Co., Ltd. (Quang Nam province) has just come into operation, so there are few expenses incurred. In Quarter 4/2011, profit of this subsidiary was (-VND23.9 million), the parent company’s profit was (-VND12.89 billion). Total profit in the consolidated financial statements was (-VND12.914 billion).
- The consolidated revenue in Quarter 4/2011 was VND54.86 billion decreasing 30.57% from the same period because customers adjusted the progress of receiving goods and the weather, especially storms, affected sales.
- In Quarter 4/2011, the liquidation sale of equipment, assets of the copper factory (closed down) made the profit margin decrease 61.14% compared to Quarter 4/2010.
- The Company had a loss of VND5.7 billion from financial investment in Quarter 4/2011, higher than the loss of VND2.2 billion in Quarter 4/2010, because financial expenses rose sharply when investment projects have been completed procedures and executed.
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