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SHI: Explanation for the consolidated profit of Quarter 4/2013 Son Ha International Corporation explained fluctuations in business results of Quarter 4/2013 compared to Quarter 3/2012, based on the consolidated financial statements of Quarter 4/2013:
1. Revenue: In Quarter 4/2013, SHI’s revenue decreased 27% compared to the same period of 2012 mainly because in Quarter 3/2013, revenue from exporting decreased 76%.
2. Cost of goods sold: SHI’s cost of goods sold in Quarter 4/2013 decreased 27% compared to Quarter 4/2013.
3. Financial expense: total financial expense increased 9%, but interest expense decreased 31% because:
In Quarter 4/2013, the firm sold 1,680,000 shares of Son Ha Sai Gon JSC, leading loss from disposal of subsidiary was VND10,080 million.
4. Selling expense: Selling expense increased 12% compared to the same period of 2012 because of increases in wage expense, promotion and advertising expenses and other expenses.
5. Profit before tax: Profit before tax in Quarter 4/2013 decreased 37% compared to Quarter 4/2012. HOSE
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