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CMX: Explanation for business results in Quarter 4.2011
Ca Mau Frozen Seafood Processing Import Export Corporation has explained the business results in Quarter 4/2011 and Quarter 4/2010 as follows:
- Profit after tax in Quarter 4/2011: 1,104,782,392 dongs
- Profit after tax in Quarter 4/2010: (31,902,163,174) dongs
- Increased: 33,006,945,566 dongs
Reasons:
Net revenue from sales in Quarter 4/2011 decreased by 70,409 billion dongs (18.65%). Cost of goods sold decreased by 131.99 billion dongs (32.78%) to making profit gross profit increased by 61.58 billion dongs because the late 2010, the company has established to provision for devaluation of inventories by 27.08 billion dongs and the difference in the production structure.
Financial incomes in Quarter 4/2011 decreased by 27.09 billion dongs (65.44%) compared to Quarter 4/2010. Financial expenses in Quarter 4/ 2011 decreased by 2.83 billion (8.75%) making profit in Quarter 4/2011 decreased by 24.26 billion dongs because:
1. Average bank deposits in Quarter 4/2011 decreased 43.54% equally 1.77 billion dongs making profit decreased.
2. Foreign exchange rate increased high in the 2010 late, Quarter 4/2011 foreign exchange rate stabilized to profit decreased by 32.12 billion dongs.
3. Selling expenses and general & administrative expenses decreased by 9.15 billion dongs (37.45%) and 2.15 billion dongs (33.92%) leading to profit increased.
4. Other incomes decreased 13 billion dongs (96.61%). Other expenses increased 0.50 billion dongs (127.88%) leading to profit decreased 13.50 billion dongs. Mainly the 2010 late, the company has settled the result of excess inventory by 12.88 billion dongs.
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