Son Ha International Corporation explained the fluctuation in the income report in Quarter 2/2012 compared to the same period of 2011:
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Revenue: In Quarter II/2012, SHI’s revenue
increased 5% compared to the same period of last year. Main reasons of the
increase are: (i) the production of industrial sector increased 28%. While household goods sector decreased
5.4% compared to the same period of last year.
-
Cost of goods sold: Compared to Quarter II/2011, SHI’s
cost of goods went up 7% because of growth of revenue scale. Besides in quarter
2/2012, price of inox materials decreased but cost of goods sold
of inox materials were still
high. Other overall production costs and
salary expense rose.
-
Financial income: the financial
income in Quarter 2/2012 increased 46% from Quarter 2/2011 because income from loan’s subsidiaries was VND1,6 billion rising 125%.
-
Financial expense: although the interest expense in
this period grew 64% against the same period of last year, total financial
expense decreased 1% because:
+
In Quarter 2/2012, the foreign exchange rates did not fluctuate
as much as 2011. Therefore, the exchange rate loss in Quarter 2/2012 decreased
VND9 billion (98%).
+
In Quarter 2/2012, the Corporation had a VND5.1billion provision
for short-term investment refunded.
-
Selling expense: Selling expense decreased VND0.8
billion or (6%) compared to quarter 2/2011.
-
Administrative expense: administrative expense
increased 17% salary expenses increased 50%
and other cash expenses increased 7% compared to the same period of last
year.
-
Profit before tax: SHI’s profit after tax in Quarter 2/2012
decreased 68% compared to Quarter 2/2011.
