|
KSD: Explanation for the change of over 10% in operating result in 2011 compared to 2010 According to the Audited Financial Statement 2011 of holding company, profit after tax of 2011 decreased more than 10% year on year. South East Asia HAMICO Export JSC explained the decrease in operating result in 2011 as follows: |
|
Items |
2010 |
2011 |
|
Gross sale from merchandises and services |
165,206,439,885 |
205,074,031,014 |
|
Cost of goods sold |
138,307,075,611 |
202,263,307,145 |
|
Profit from merchandise and services |
26,743,264,274 |
2,810,723,869 |
|
Net profit from operation |
4,469,811,405 |
(15,575,099,635) |
|
Financial expenses |
9,336,076,554 |
10,692,581,595 |
|
Selling expenses |
4,460,613,866 |
7,720,817,487 |
|
Profit after tax |
13,284,023,585 |
(17,699,583,502) |
The difference of profit after tax 2011 and profit after tax 2010 is by 133.24%
Reasons:
- In 2011, revenue of holding company increased compared to 2011, but expense of 2011 increased sharply compared to 2010:
+ Input expense: iron, papers …
+ Transportation, electric, human expense …
+ Other expenses: general and administration expense, financial expense and difference of foreign exchange
- Due to concurrence of China, Pakistan, selling prices were not improved. Thus, cost of goods sold increased compared to 2010 | HNX
