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CX8: Explanation for change of over 10 percent in operating result in Quarter III/2012
According to the Financial Statement Quarter III/2012, profit after tax increased by more than 10% year on year. CONSTREXIM No. 8 Investment and Construction JSC explained the change in operating result in Quarter III/2012 as follows:
The profit after tax in QIII/2012 reached VND114,679,308 with an increase of VND87,609,649 (equivalent to 315.36%) compared to QIII/2011 (VND27,609,659)
Reasons:
- Gross profit in QIII/2012 increased because material, input equipment was stable and tended to go down, which results in fall of cost of goods sold
- Financial expense increased due to high bank interest. The company mobilized capital from the staff and other issue with average interest of 15 – 18%/year.
- General and administration expense decreased by VND300 million because the company reduced expenses, salary expenses and 20% regular costs.
HNX
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