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SHI: Explanation for the profit of Quarter 4/2013 of parent company Son Ha International Corporation explained fluctuations in business results of Quarter 4/2013 compared to Quarter 3/2012, based on the financial statements of parent company of Quarter 4/2013:
1. Revenue: In Quarter 4/2013, SHI’s revenue decreased 24% 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 24% compared to Quarter 4/2013.
3. Financial expense: total financial expense increased 38%, but interest expense decreased 23% 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.
The firm made a provision for long term financial investment of subsidiary(Vinaconex): VND7.9 billion.
4. Selling expense: Selling expense increased 53% compared to the same period of 2012 because of increases in wage expense (48%), promotion and advertising expenses and other expenses.
5. Profit before tax: Profit before tax in Quarter 4/2013 decreased 74% compared to Quarter 4/2012. HOSE
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