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VPK: Explanation for business result in Q4.2011
In Quarter 4/2011, the profit after tax of Vegetable Oil Packing Joint Stock Company (VPACK) was VND6,132,582,829 increasing by VND4,356,928,360 from VND1,775,654,469 in Quarter 4/2010, and the cumulative profit after tax in 2011 rose by 133% compared to profit after tax in 2010.
Reasons:
Revenue in Quarter 4/2011 went up 18% compared to the same period of 2010. VPK’s cumulative revenue in 2011 increased by 32.7% against 2010. Besides, selling price in 2011 was also higher than in 2010 because the Company used main materials in inventory from late 2010 and bought in early Quarter 1, 2 & 3 of 2011.
The Company has effectively controlled expenses, bank interests. Therefore, the increase in expenses was lower than the increase in net revenue and gross profit.
In 2011, the Company received a 30 percent deduction of corporate income tax, so the Company’s profit after tax increased.
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