SHI: Explanation for business results of parent company for 6 months of 2012 after review
Son Ha International Corporation explained the fluctuation in the business results of parent company for 6 months of 2012 after review:
-
Financial expense: Financial expense for 6 months of
2012 after review increased 6% compared to in before review because the company
adjusted a provision for losses of subsidiary Vinaconex (VND3,783,504,224) and
exchange rate difference evaluation on foreign currency deposits (VND63,851,408).
-
Administrative expense: administrative
expense for 6 months of 2012 after review decreased 8% compared to in before
review because the company delayed provision for receivables
(VND1,048,245,600).
-
Net revenue and profit before tax: Due to the above
changes, net revenue for 6 months of 2012 after review decreased 47% compared
to in before review, leading to profit before tax decreased 47%.
-
Business income tax – current: Business income
tax – current for 6 months of 2012 after review decreased 69% compared to in
before review because:
+
Profit before tax before & after review went down
VND2,799,110,032
+
Recovery of unrealized income from exchange rate differences
on short-term payables before and after review went down VND1,086,824,841.
-
Profit after tax: Due to the above changes, leading to
profit after tax decreased 39%.
