VDS: Explanation for negative profit in 2011
Viet Dragon Securities Corporation explained the negative profits in 2011 as follows:
- Due to the world’s economic crisis and the stock market, average transaction volume of stock market is VND1000 billion (equals 40% of 2010). Receivable from brokerage was influenced sharply.
- Stock price decreased sharply compared to 2010, loss in operation. Thus, Viet Dragon Securities Corporation had to set up reserve expense.
- Due to bank interest increased, interest expense increased
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