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CMV: Explanation for business result in Q4.2011
Ca Mau Trading Joint Stock Company (CAMEX) has explained the fluctuation in business results in Quarter 4/2011 compared to Quarter 4/2010, according to the Quarter 4/2011 financial statements (not audited, not consolidated):
Revenue in Quarter 4/2011 was VND1,074,801,231,462 increasing 13.29% compared to the Quarter 4/2010 revenue of VND948,663,338,375, because the following reasons:
- The strong increase in sales of food products, electrical, refrigeration.
- Prices of goods distributed by CAMEX continued increasing during Quarter 4/2011.
- Profit before tax in Quarter 4/2011 gained VND8,734,701,358 against VND10,782,993,610 in Quarter 4/2011, equivalent to a decrease of 18.99%, because:
- Profit from petrol business decreased sharply because the discounts from importers to general agents went down.
- Profit from all kind of goods business decreased sharply because CAMEX competed with rivals.
- Provision for devaluation of inventories, provision for devaluation of security investments, provision for bad depts.
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