Son Ha International Corporation explained the fluctuation in the consolidated income report in Quarter 1/2012 compared to the same period of 2011:
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Revenue: In Quarter 1/2012, SHI’s revenue
increased 42% compared to the same period of last year. Two main reasons of the
increase are: (i) SHI raised the selling prices of household goods, (ii) the
production of industrial sector increased sharply. Besides, the change of sales
structure affected the growth of revenue in this quarter.
-
Cost of goods sold: Compared to Quarter 1/2011, SHI’s
cost of goods went up 58% because of growth of revenue scale and inflation. The
inflation made cost of input materials and production cost increase highly.
-
Financial income: the financial income in Quarter 1/2012
decreased 57% from Quarter 1/2011 because the exchange rate difference in this
period was down 88%.
-
Financial expense: although the interest expense in
this period grew 64% against the same period of last year, total financial
expense decreased 11% because:
+
In Quarter 1/2012, the foreign exchange rates did not fluctuate
as much as 2011. Therefore, the exchange rate loss in Quarter 1/2012 decreased
VND4.67 billion (75%).
+
In Quarter 1/2012, the Corporation had a VND5.6-billion provision
for short-term investment refunded, while in the same period of last year SHI
had to set up a VND5.8-billion provision.
-
Selling expense, administrative expense: Selling
expense and administrative expense increased 7% and 4% in turn because prices
of all goods, other service expenses were higher than in 2011.
-
Other income, other expense: Other income and other
expense decreased 98% and 74% in turn because in Quarter 1/2011 the Corporation
transferred a property with an income of VND9.5 billion, the remaining value of
VND8.9 billion.
-
Profit after tax: SHI’s profit after tax in Quarter
1/2012 decreased 122% compared to Quarter 1/2011 because of the following
reasons:
+
The effects of reasons above.
+
Besides, on the consolidated financial statements in Quarter
1/2012, the Corporation had to set up the allocated goodwill of
VND2,232,976,930.
