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VIT: Explanation for the change of over 10% in operating result in QIV.2011 compared to QIV.2010
According to the Financial Statement Quarter IV/2011, profit after tax of Quarter IV/2011 decreased more than 10% year on year. Viglacera Tien Son JSC explained the decrease in operating result in Quarter IV/2011 as follows:
- Profit before tax 2011: VND 3,074,973,607
- Profit before tax 2010: VND 20,678,728,485
- Price of petrol increased 02 times (by 43.5% compared to the first month of year); Price of electric increased by 15.3% from 01/03/2011 and 5% from 20/12/2011; Price of coal 4B increased by 18% from 25/08/2011. Thus, the input costs of the company increased.
- USD exchange increased by 9.3%, bank interest increased from 13 to 20%. Thus, financial expenses increased.
- Real estate market freeze, the consumption of the company’s products became difficult.
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