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OGC: Explanation for consolidated business results in the quarter 1/2013 Ocean Group., JSC has explained consolidated profit decreased over 10% in quarter 1/2013 compared to in quarter 1/2012 as follows:
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Items
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Quarter 1/2013
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Quarter 1/2012
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Difference
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VND
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%
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Net revenue from selling and service supply
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306,374,996,495
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227,819,567,871
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78,555,428,624
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34.0
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Cost of goods sold
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214,002,730,354
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158,158,334,417
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55,844,395,937
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35.3
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Gross profit from selling and service supply
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92,372,266,141
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69,661,233,454
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22,711,032,687
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33.0
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Financial income
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109,092,960,749
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68,570,964,398
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40,521,996,351
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59.0
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Financial expenses
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124,209,190,349
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60,693,363,563
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63,515,826,786
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105.0
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Selling expenses
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27,757,787,750
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1,232,968,107
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26,524,819,643
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125.0
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General and administration expense
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53,720,837,484
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45,902,720,365
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7,818,117,119
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17.0
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Profit in associated
companies
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15,696,165,457
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27,735,758,114
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(12,039,592,657)
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(43.0)
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Current corporate income tax
expenses
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7,576,936,455
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7,133,154,516
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443,781,939
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6.0
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Profit after tax
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3,859,195,715
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38,678,187,366
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(34,818,991,651)
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(90.0)
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-
Revenue, cost of goods sold and gross profit from
selling and service supply increased from 33% to 35%. But consolidated profit
after tax in Quarter 1/2013 decreased VND 34,818,991,651 or 90% compared to in
Quarter 1/2012. Because:
+
Financial
income increased VND40,521,996,351 (59%) but financial
expenses increased VND63,515,826,786 (105%).
+
Selling expenses went up VND15,428,099,643 (125%)
because promotional activities and retail network of subsidiaries
increased.
-
Consolidated profit after tax in Quarter 3/2012 was
VND52,618,774,675, decreasing VND23,592,696,113 (31%) compared to in Quarter 3/2011.
Mainly because:
+
Financial expenses increased VND78,741,555,989
because financial expenses of subsidiaries
rose. While financial income decreased VND18,099,188,094 (21%).
+
Selling expenses went up VND8,669,457,615.
+
Besides, income tax in Quarter 3/2012 increased
VND14,328,335,246 (131%) compared to in Quarter 3/2011.
HOSE
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