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GMD: Explanation for the difference in profit after tax in 2011
Gemadept Corporation explained the difference in profit after tax in 2011 compared to the same period of last year:
- Main activity of the company stayed stable. Gross profit in 2011 was VND390,543 million (99.65% of 2010).
- Profit after tax in 2011 was: VND4,590 million (2.22% of the consolidated profit after tax of 2010)
- Profit after tax decreased by VND202,273 million because the following reason as follows:
1. Loss: because financial activity increased by VND83,419 million compared to the same period of last year, in which:
Interest expenses increased by VND22,698 million
- Profit from rate decreased by VND29,310 million
- Provision for devaluation of financial investment increased by VND31,276 million
2. General & administrative expenses increased by VND42,564 million, in which:
- Goodwill increased by VND26, 735 million
3. Other profit decreased by VND70,500 million.
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