Sacombank-SBS: Explanation for business result in Quarter 3.2012
Sacombank Securities Joint Stock Company explained the fluctuation in business result between Quarter 3/2012 and Quarter 3/2011 according to the consolidated financial statements:
Unit: billion dongs Item Quarter 3.2012 Quarter 3.2011 Difference Ratio Revenue 32.93 154.07 (121.14) 21% Revenue from securities brokerage services 2.89 12.21 (9.32) 24% Revenue from securities investment 11.03 123.40 (112.37) 9% Revenue from securities issuance agency services - 2.06 (2.06) 0% Revenue from finance advisory services 0.29 1.02 (0.73) 28% Revenue from securities custodian services 1.07 - 1.07 - Other revenues 17.65 15.35 2.30 115% Expenses for securities trading activities 12.22 346.55 (334.34) 4% General & administration expenses 13.05 20.54 (7.49) 64% Other expenses 1.40 147.56 (146.16) - Profit before tax 9.07 (65.47) 74.54 -14% Current corporate income tax expenses - 33.88 (33.88) 0% Deferred corporate income tax expenses 9.07 (99.36) 108.43 -9% According to the financial statements in Quarter 3/2012, profit after tax was VND9.07 billion, while loss after tax in Quarter 3/2011 was VND99.36 billion, mainly because: - SBS stopped joining investment and capital contribution activities, leading to no provision for these activities. - At present, investors are moving to invest the gold and USD. Thus, the stock market reduced liquidity leading to revenue from brokerage was down strong. - SBS had effort to restructure its business. Thus, Expenses for securities trading activities decreased to 12.22 billion dongs, as 4% compared to the same period of last year, General & administration expenses decreased to 13.05 billion dongs (or 64%). These helped to increase profit after tax in quarter 3.2012 was 9.07 billion.
Unit: billion dongs
Item
Quarter 3.2012
Quarter 3.2011
Difference
Ratio
Revenue
32.93
154.07
(121.14)
21%
Revenue from securities brokerage services
2.89
12.21
(9.32)
24%
Revenue from securities investment
11.03
123.40
(112.37)
9%
Revenue from securities issuance agency services
-
2.06
(2.06)
0%
Revenue from finance advisory services
0.29
1.02
(0.73)
28%
Revenue from securities custodian services
1.07
Other revenues
17.65
15.35
2.30
115%
Expenses for securities trading activities
12.22
346.55
(334.34)
4%
General & administration expenses
13.05
20.54
(7.49)
64%
Other expenses
1.40
147.56
(146.16)
Profit before tax
9.07
(65.47)
74.54
-14%
Current corporate income tax expenses
33.88
(33.88)
Deferred corporate income tax expenses
(99.36)
108.43
-9%
According to the financial statements in Quarter 3/2012, profit after tax was VND9.07 billion, while loss after tax in Quarter 3/2011 was VND99.36 billion, mainly because:
- SBS stopped joining investment and capital contribution activities, leading to no provision for these activities.
- At present, investors are moving to invest the gold and USD. Thus, the stock market reduced liquidity leading to revenue from brokerage was down strong.
- SBS had effort to restructure its business. Thus, Expenses for securities trading activities decreased to 12.22 billion dongs, as 4% compared to the same period of last year, General & administration expenses decreased to 13.05 billion dongs (or 64%). These helped to increase profit after tax in quarter 3.2012 was 9.07 billion.
HOSE
> MAFPF1: NAV from 06 Dec 2012 to 13 Dec 2012 (18/12/2012)
> PRUBF1: NAV from 06 Dec 2012 to 13 Dec 2012 (18/12/2012)
> VFMVF1: NAV from 06 Dec 2012 to 13 Dec 2012 (18/12/2012)
> VFMVF4: NAV from 06 Dec 2012 to 13 Dec 2012 (18/12/2012)
> VFMVFA: NAV from 06 Dec 2012 to 13 Dec 2012 (18/12/2012)
> SBS: Explanation for business result in Quarter 3.2012 (18/12/2012)
> PSG: Financial Statement Quarter 3/2012 (17/12/2012)
> GLT: Reviewed financial statement 2012 (holding company) (17/12/2012)
> GLT: Reviewed financial statement 2012 (17/12/2012)
> ASIAGF: NAV from 06 Dec 2012 to 13 Dec 2012 (17/12/2012)
