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VST: Explanation for business result in Q1/2012
Vietnam Sea Transport And Chartering Joint Stock Company (VITRANSCHART JSC) has explained the fluctuation in profit of Quarter 1/2012 compared to Quarter 1/2011:
By: million dongs
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No.
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Item
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Quarter 1/2012
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Quarter 1/2011
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Comparison
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|
Amount
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Ratio (%)
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1
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Revenue from selling and services
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386,117
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460,729
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(74,612)
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(16)
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|
2
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Cost of goods sold
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338,401
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367,780
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(29,379)
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(8)
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|
3
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Gross profit
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47,716
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92,949
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(45,233)
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(49)
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|
4
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Selling expense
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24,540
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25,715
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(1,175)
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(5)
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|
5
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Financial profit
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(44,461)
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(63,244)
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18,783
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(30)
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|
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Including: Interest expense
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42,345
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42,808
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(463)
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(1)
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|
6
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Profit from business
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(21,286)
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3,990
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(25,276)
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(633)
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|
7
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Other profit
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871
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1,266
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(395)
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(31)
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|
8
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Profit before tax
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(20,414)
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5,256
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(25,670)
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(488)
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|
9
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In which: profit of subsidiaries
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711
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139
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572
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412
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1. Revenue from selling and services in Quarter 1/2012 decreased VND74.6 billion or down 16% from revenue from selling and services in Quarter 1/2011, while revenue from selling and services of subsidiaries increased VND14.4 billion because of the following reasons:
- Revenue from shipping went down strongly: transport quantity of ships of the company was 383,149 tons decreasing 32% because fleet of the company decreased 03 ships. Besides, price of transport decreased strongly, BDI, BHSI index average first three months in 2012 was only 867 and 725 point going down 36%.
- VITRANSCHART continued executing expense saving policies, so the cost price of transport decreased VND29 billion (-8%) mainly the cost price of transport of parent company decreased VND43 billion (-13%).
- The administrative expense and selling expense went down VND1.1 billion (-15%), financial expense was high but financial expense was less VND18.8 billion than the same period of last year.
- Profit from subsidiaries rose VND572 million, up 412% compared to the same period of last year.
HOSE
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