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HVG: Explanation for business result in Q2/2012 Hung Vuong Corporation explained the fluctuation in business result in Quarter 2/2012 as follows:
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According
to Single – entity financial statements in Quarter 2/2012:
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In Quarter 2/2012
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In Quarter 2/2011
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Increased/ decreased (%)
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Revenue
from service supply
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1,258,962,210,377
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1,453,434,128,892
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(13)
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Cost of
goods sold
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1,114,454,344,889
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1,317,152,449,909
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(15)
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Financial
revenue
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32,868,935,663
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40,775,757,837
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(19)
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Financial
expenses
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25,732,051,960
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53,095,420,016
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(52)
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In which: interest expenses
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25,144,227,591
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23,827,769,269
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6
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Selling
expenses
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64,446,299,275
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47,449,348,606
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36
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General
and administration expenses
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8,411,218,522
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29,919,092,959
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(72)
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Other
income
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20,000
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998,424,283
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(100)
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Other
expenses
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2,425,741,878
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2,282,269,301
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6
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Profit
after tax
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73,346,683,801
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41,489,657,226
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77
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Current
corporate income tax expenses
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10,000,000,000
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17,781,715,001
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(44)
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Business
income tax - deferred
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-
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1,269,899,348
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(100)
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Profit
after tax
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63,346,683,801
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19,977,841,573
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154
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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
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