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OCH: Explanation for change in operating result in Quarter III/2012
According to the consolidated Financial Statement Quarter III/2012, the consolidated profit after tax changes more than 5% year on year. Ocean Hospitality & Service JSC explained the change in consolidated profit after tax as below:
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Items
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Quarter III/2012
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Quarter III/2011
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Difference
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Absolute number
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Directed number
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Gross
profit from sales and services
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85,627,462,524
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71,746,119,028
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13,881,343,496
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19.35%
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Revenue
from financial activities
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40,496,397,021
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27,386,358,144
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13,110,038,877
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47.87%
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Financial
expenses
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58,476,577,068
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26.240,254,822
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32,236,322,246
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122.85%
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Sales
and Administrative Expenses
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51,588,543,090
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50,711,029,416
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877,513,675
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1.73%
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Gross
profit from operation
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16,058,739,387
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22,181,192,935
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(6,122,453,548)
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-27.60%
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Other
Revenue
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(331,570,069)
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(582,150,639)
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250,580,570
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-43.04%
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Profit
& Loss in collaborated company
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725,851,965
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196,125,939
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529,726,026
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270.09%
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Total
Profit Before Tax
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16,453,021,,283
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21,795,168,235
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(5,342,146,952)
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-24.51%
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Tax
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8.991,033,781
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8,832,464,047
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158,569,733
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1.80%
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Total
Profit After Tax
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7,461,987,502
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12,962,704,188
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(5,500,716,685)
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-42.43%
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The profit after tax
decreased VND 5,500,716,685 (42.43%) because of the reasons below:
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The Gross Profit from sales and services
increased by VND 13,881,343,496 because the
Sunrise Hoi An Resort of the company started to operate in this year. The gross
profit from this hotel in Quarter 3 was VND 12,987,206,551.
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The Financial revenue increased by VND
13,110,038,877, the financial expenses increased by VND 32,236,322,246 led to
the revenue from the financial activities decreased VND 19,126,283,369. It was
because the interest of the bond borrowing during the construction process Hoi
An Hotel 2011 was capitalized into the construction price. In 2012 the hotel
started operating and stopped capitalizing interests. Therefore the financial
expenses increased dramatically.
HNX
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