HVG: Explanation for business result in Q2/2012 Hung Vuong Corporation explained the fluctuation in business result in Quarter 2/2012 as follows:
-
According
to Single – entity financial statements in Quarter 2/2012:
|
In Quarter 2/2012
|
In Quarter 2/2011
|
Increased/ decreased (%)
|
Revenue
from service supply
|
1,258,962,210,377
|
1,453,434,128,892
|
(13)
|
Cost of
goods sold
|
1,114,454,344,889
|
1,317,152,449,909
|
(15)
|
Financial
revenue
|
32,868,935,663
|
40,775,757,837
|
(19)
|
Financial
expenses
|
25,732,051,960
|
53,095,420,016
|
(52)
|
In which: interest expenses
|
25,144,227,591
|
23,827,769,269
|
6
|
Selling
expenses
|
64,446,299,275
|
47,449,348,606
|
36
|
General
and administration expenses
|
8,411,218,522
|
29,919,092,959
|
(72)
|
Other
income
|
20,000
|
998,424,283
|
(100)
|
Other
expenses
|
2,425,741,878
|
2,282,269,301
|
6
|
Profit
after tax
|
73,346,683,801
|
41,489,657,226
|
77
|
Current
corporate income tax expenses
|
10,000,000,000
|
17,781,715,001
|
(44)
|
Business
income tax - deferred
|
-
|
1,269,899,348
|
(100)
|
Profit
after tax
|
63,346,683,801
|
19,977,841,573
|
154
|
-
In
Quarter 2/2012 products from export went down, leading to revenue decreased
13%. Therefore, gross profit decreased 7% compared to the same period of last
year. -
Income
from dividends in Quarter 2/2012 increased VND18.7 billion or 3.8 times
compared to in Quarter 2/2011, but financial income in Quarter 2/2012 went down
VND7.9 billion or down 19%. -
Interest
expenses in Quarter 2/2012 went up VND1.3 billion (6%) compared to in Quarter
2/2011, but financial expenses in Quarter 2/2012 decreased VND27.3 billion
(25%). -
Selling
expenses in Quarter 2/2012 increased VND17 billion (36%), but general and
administration expenses in Quarter 2/2012 decreased VND21.5 billion (72%)
because reserve for bad debts went down. -
Therefore,
profit after tax in Quarter 2/2012 increased VND38,368,842,228 or 154% compared
to in Quarter 2/2011.
HOSE
|