CAN: Explanation for difference of profit after tax in Q4/2013 year on year (Holding company & Consolidated)
On 10/02/2014, Halong
Canned Food Joint Stock Corporation announced explanation for difference of
profit after tax in Q4/2013 year on year as follows:
a. Holding company
Profit in Q4/2013 was VND 11 billion, increasing by VND 12.5 billion in
comparison with profit after tax in Q4/2012 (VND -1.5 billion) because:
- Net revenue in Q4/2013
was VND 80 billion, increasing by VND 5.3 billion year on year so gross profit
from sale and services in Q4/2013 of the Holding company increased by VND 7
billion.
- In Q4/2013, the Holding
company wrote back provision for long-term investment into subsidiary company
of VND 3.9 billion.
b. Consolidated
Consolidated profit in Q4/2013 was about VND 6 billion, increasing by VND
4.2 billion (233%) in comparison with profit after tax in Q4/2012 (VND 1.8
billion) because:
- Net revenue in Q4/2013
of the Holding company was VND 80 billion, increasing by VND 5.3 billion year
on year so gross profit from sale and services in Q4/2013 of the Holding
company increased by VND 7 billion. Therefore, consolidated gross profit from
sale and services increased VND 2.7 billion year on year
- In Q4/2013, subsidiary
company (Halong-Danang Canned Food Co., ltd) got profit of about VND 2.7
billion. HNX
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