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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 as follows:
By: million dongs
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No.
|
Item
|
Quarter 1/2012
|
Quarter 1/2011
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Comparison
|
|
Amount
|
Ratio
|
|
1
|
Revenue
from selling and services
|
323,562
|
412,948
|
-89,386
|
-22%
|
|
2
|
Cost of
goods sold
|
283,978
|
327,135
|
-43,157
|
-13%
|
|
3
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Gross
profit
|
39,584
|
85,812
|
-46,228
|
-54%
|
|
4
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Selling
expense
|
14,721
|
17,522
|
-2,801
|
-16%
|
|
5
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Financial
expenses
|
-44,122
|
-63,072
|
18,950
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-33%
|
|
|
In which: interest expense
|
42,057
|
42,472
|
-415
|
-1%
|
|
6
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Net
operating profit
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-19,258
|
5,217
|
-24,475
|
-469%
|
|
7
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Other
profit
|
-1,866
|
-101
|
-1,765
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1,748%
|
|
8
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Profit
before tax
|
-21,125
|
5,117
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-26,242
|
-513%
|
|
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Corporation
income tax current and deferred
|
|
1,279
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-1,279
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-100%
|
|
9
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Profit
before tax
|
-21,125
|
3,837
|
-24,962
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-651%
|
-
Profit
before tax in Quarter 1/2012 loss by VND 21 billion because of the following
reasons: -
In
Quarter 1/2012, the transport quantity of ships reached 383,149 tons, decreased
32% of the same period of 2011. However, because the sea freight has not
recovered, VITRANSCHART’s revenue in Quarter 3/2011 decreased VND89 billion, or
down 22%, from Quarter 1/2011. -
VITRANSCHART
continued executing expense saving policies to maintain price items and its
increased lower than the same period of last year. -
Transport
cost decreased VND 43 billion (-13%). -
Selling
expense and general & administrative expense decreased VND2.8 billion
(-16%) thank to save expenses as salary, electricity, stationery, etc. -
Financial
expense has been maintained in high rates but lower than compared to the last
year about VND19 billion, in which loan interest in Quarter 1.2012 decreased 1%
compared to the same of 2011, loss from exchange rate decreased VND18 billion
thank to the stable exchange rate policy.
HOSE
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