MTG: Explanation for business result in Q3/2013
MTGAS Joint Stock Company explained the fluctuation in profit in Quarter 3/2013 compared to Quarter 3/2012 as follows:
Item Quarter 3/2012 Quarter 3/2013 Difference ratio Net revenue 110,211 202,189 84.03% Cost of sales 94,478 195,584 107.02% Gross profit 15,733 7,235 (54.01%) Financial income 2,512 490 (80.49%) Financial expenses 3,732 2,417 (35.24%) Selling expenses 1,967 1,736 (11.74%) General and admin expenses 2,224 2,508 12.77% Operating profit 10,322 1,064 Other incomes 12 (182) Net accounting profit before tax 10334 882 1. Although net revenue in Q3/2013 increased by 84.03% compared to Q3/2012, gross profit in Q3/2013 was only VND7,235 billion, decreasing 54.01% compared to the same period of 2012 because cost of sales increased by 107.02%. 2. Compared to Q3/2012, financial income in Q3/2013 decreased more than financial expenses in Q3/2013. 3. Selling expenses decreased by 11.74% but general and admin expenses increased by 12.77%. There are three main reasons leading to the decrease of profit in Q3/2013 compared to Q3/2012.
Item
Quarter 3/2012
Quarter 3/2013
Difference ratio
Net revenue
110,211
202,189
84.03%
Cost of sales
94,478
195,584
107.02%
Gross profit
15,733
7,235
(54.01%)
Financial income
2,512
490
(80.49%)
Financial expenses
3,732
2,417
(35.24%)
Selling expenses
1,967
1,736
(11.74%)
General and admin expenses
2,224
2,508
12.77%
Operating profit
10,322
1,064
Other incomes
12
(182)
Net accounting profit before tax
10334
882
1. Although net revenue in Q3/2013 increased by 84.03% compared to Q3/2012, gross profit in Q3/2013 was only VND7,235 billion, decreasing 54.01% compared to the same period of 2012 because cost of sales increased by 107.02%.
2. Compared to Q3/2012, financial income in Q3/2013 decreased more than financial expenses in Q3/2013.
3. Selling expenses decreased by 11.74% but general and admin expenses increased by 12.77%.
There are three main reasons leading to the decrease of profit in Q3/2013 compared to Q3/2012.
HOSE
> DRC: Explanation for business result in Q3/2013 (12/11/2013)
> EBS: Financial Statement Quarter 3/2013 (12/11/2013)
> DLR: Financial Statement Quarter 3/2013 (holding company) (12/11/2013)
> DLR: Financial Statement Quarter 3/2013 (12/11/2013)
> ASIAGF: NAV from 31 Oct 2013 to 07 Nov 2013 (12/11/2013)
> MAFPF1: NAV from 31 Oct 2013 to 07 Nov 2013 (12/11/2013)
> VDL: Financial Statement Quarter 3/2013 (holding company) (11/11/2013)
> AAA: Financial Statement Quarter 3/2013 (11/11/2013)
> API: Financial Statement Quarter 3/2013 (11/11/2013)
> KST: Financial Statement Quarter 3/2013 (consolidated) (11/11/2013)
