Son Ha International Corporation explained fluctuations in business results of Quarter 3/2012 compared to Quarter 3/2011, based on the consolidated financial statements of Quarter 3/2012:
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Revenue: In Quarter 3/2012, SHI’s revenue rose 6% compared
to the same period of 2011 mainly because in Quarter 3/2012 SHI recorded the
revenue from Hiway Supermarket. The revenue of Hiway Supermarket accounts for
12% of total revenue of the Corporation.
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Cost of goods sold: SHI’s cost of goods sold in Quarter
3/2012 increased 2% compared to Quarter 3/2011 because:
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The cost of goods sold increased with the revenue growth.
+
In Quarter 3/2012, the cost of goods sold of Hiway
Supermarket arose. Besides, other production expenses and wages went up, so the
cost of goods sold increased 2%.
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Financial income: Financial income decreased 332% from the
same period of last year because the Corporation in Quarter 3/2011 had
financial incomes from short-term loan agreements. Moreover, the interest from
exchange rate difference in 2012 decreased 204% against 2011 because the
foreign exchange rate in the period did not change as much as the same period
of last year.
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Financial expense: Financial expense saved 4% compared to Quarter
3/2011 because of the following reasons:
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The foreign exchange rate in the period did not change as
much as the same period of last year.
+
In Quarter 3/2012, provision for short-term investment
increased VND3.98 billion while the provision in Quarter 3/2011 was zero.
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Selling expense: Selling expense increased 158% compared to
the same period of 2012 because of increases in wage expense, other expenses.
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Administrative expense: Administrative expense rose 280%
against Quarter 3/2011 because: wage expense rose 300%, expense for office
equipment increased 1476% because Hiway went into operation, expense for
services increased 158% and other expense in cash rose 500%.
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Other income: Other income increased 216% because other
expenses increased when SHI liquidated some assets, machines, equipment.
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Profit after tax: Profit after tax in Quarter 3/2012 lost
1083% compared to Quarter 3/2011, and the parent company’s profit after tax
also decreased 910%.
