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PNC: Explanation for business result in Q4/2011
Phuong Nam Cultural Joint Stock Corporation explained the fluctuation in profit after tax in Quarter 4/2011 (consolidated) compared to Quarter 4/2010:
- Interest expense in Quarter 4/2011 increased more highly than the same period of 2010, so the borrowing cost went up.
- Selling expense and administrative expense rose because of inflation and rental price.
- Sales and gross profit in Quarter 4/2011 were higher than the same period of 2010, because bookstores start opening in 2011.
- Other incomes in Quarter 4/2011 were less than in Quarter 4/2010, because Phuong Nam Cultural Joint Stock Corporation sold a property in 2010.
- Current corporate income tax expenses in Quarter 4/2011 were higher than the same period of 2010 because the Company recalculated the income tax expenses of subsidiaries which were temporarily paid in 2011.
- Deferred corporate income tax in Quarter 4/2011 increased because:
+ Refunded prepaid expenses.
+ Refunded losses of subsidiaries in 2011.
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