Hoi An Tourist Holding Company (Hoi An Tourist Service Co) has explained business differences in quarter 1/2014 as follows:
1) Financial
revenue:
Quarter 1/2014: 25,963,063
dongs
Quarter 1/2013: 114,555,923
dongs
Decreased: 88,592,860 dongs
Percentage: 77.34%
Reason:
the revenue in quarter 1/2013 was from idle deposits. In quarter 1/2014, some
investments were nearly finished and the deposits in quarter 1/2013 were used
to pay for the investments. This made the revenue in quarter 1/2014 decreased.
2) Financial
expenses:
Quarter 1/2014: 1,917,401
dongs
Quarter 1/2013: 3,768,301
dongs
Decreased: 1,850,900 dongs
Percentage: 49.12%
Reason:
the expenses decreased because of difference of exchange rate.
3) Sales
expenses:
Quarter 1/2014: 1,445,457,374
dongs
Quarter 1/2013: 1,208,755,860
dongs
Increased: 236,701,514 dongs
Percentage: 19.58%
Reason:
the expenses increased because meeting expenses of the end of 2013 was held in
Jan. 2014.
4) Other
incomes:
Quarter 1/2014: 94,287,278
dongs
Quarter 1/2013: 7,166,036
dongs
Increased: 87,121,242 dongs
Percentage: 1,215.75%
Reason:
the company liquidated some fixed assets which were not used in long time.
5) Other
expenses:
Quarter 1/2014: 6,560,969
dongs
Quarter 1/2013: 12,040,650
dongs
Decreased: 5,479,681 dongs
Percentage: 45.54%
Reason:
the company held debt differences.
6) Profit
before tax:
Quarter 1/2014: 8,570,569,602
dongs
Quarter 1/2013: 11,112,127,045
dongs
Decreased: 2,541,557,443
dongs
Percentage: 22.87%
Reason:
the profit was down because the number of rooms in this quarter was increased
22% on this in quarter 1/2013. The tourists had more choices for their
temporary residence. Besides, Hoi An Beach Resort was pushed into service in
Jan. 2014 with promotion price. This made revenue decreased 92% (#
3,438,946,601 dongs and reached 81.7% of the 1.2014 plan) though the company
controlled expenses.
