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OGC: Explanation for consolidated business results in the quarter 2/2013 Ocean Group., JSC has explained consolidated profit decreased over 10% in quarter 2/2013 compared to in quarter 2/2012 as follows:
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Items
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Quarter 2/2013
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Quarter 2/2012
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Difference
|
|
VND
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%
|
|
Net revenue from selling and service supply
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460,148,096,759
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278,744,128,836
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181,403,967,923
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65
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Cost of goods sold
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323,010,883,880
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233,667,161,953
|
89,343,721,927
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38
|
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Gross profit from selling and service supply
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137,137,212,879
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45,076,966,883
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92,060,245,996
|
204
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Financial income
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310,654,477,693
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195,475,861,302
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115,178,616,391
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69
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Financial expenses
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231,541,936,623
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143,752,473,681
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87,789,462,942
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61
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Selling expenses
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38,217,487,098
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10,715,061,106
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27,502,425,992
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257
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General and administration expense
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57,707,890,525
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29,832,155,123
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27,875,735,402
|
93
|
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Current corporate income tax
expenses
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38,400,542,084
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34,584,440,134
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3,816,101,950
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11
|
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Profit after tax
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83,518,532,507
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45,327,691,567
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38,190,840,940
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84
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-
Revenue, cost of goods sold and gross profit from
selling and service supply increased, leading to consolidated profit after tax
in Quarter 2/2013 increased VND 38,190,840,940 or 84% compared to in Quarter 22012.
Because:
+
Revenue from selling increased 65%, while cost of
goods sold increased 38.2%.
+
Financial
income increased VND115,178,616,391 (59%) thanks to income from other financial investment activities and dividend but financial
expenses increased 61% because the firm made a provision for investment and
other financial expenses increased VND87,789,462,942.
+
Selling expenses and general and administration expense went up 257%
and 93% because retail network of subsidiaries
increased.
HOSE
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