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ECC: Explanation for business result in Q4, 2014 Eurocapital Securities Company explained business result in Q4/2014 compared to Q4/2013 as follows:
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Item
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Quarter 4, 2014
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Quarter 4, 2013
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Change between Q4, 2014 and Q4, 2013
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Difference
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Revenue
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1,707,097,619
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17,616,829,840
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(15,909,732,221)
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-90%
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In which:
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Revenue from securities brokerage services
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437,320,389
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760,836,936
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(323,516,547)
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-43%
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Revenue from securities investment and pooling
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90,272,300
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495,581,100
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(405,308,800)
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-82%
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Revenue from advisory services
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50,000,000
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14,850,000,000
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(14,800,000,000)
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-100%
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Revenue from securities depository
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Other revenue
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1,129,504,930
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1,510,411,804
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(380,906,874)
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-25%
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Net revenue from securities trading activities
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1,707,097,619
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17,616,829,840
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(15,909,732,221)
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-90%
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Expenses for securities trading activities
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7,437,512,388
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15,916,695,414
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(8,479,183,026)
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-53%
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Gross profit
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(5,730,414,769)
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1,700,134,426
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(7,430,549,195)
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General and administration expenses
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1,182,988,343
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1,118,213,302
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64,775,041
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6%
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Net profit from securities trading activities
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(6,913,403,112)
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581,921,124
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(7,495,324,236)
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-1288%
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Other profit
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(57,394,747)
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(39,381,727)
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(18,013,020)
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Before tax profit
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(6,970,797,859)
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542,539,397
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(7,513,337,256)
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-1385%
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Corporation income tax
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After tax profit
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(6,970,797,859)
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542,539,397
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(7,513,337,256)
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-1385%
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- In Quarter 4, 2014, ECC has tightened margin lending, advance sale of stocks leading to revenue from securities brokerage services decreased by 43%, revenue from advisory services of issuing corporate bonds decreased sharply compared to the same period of 2013. Thus, total revenue in Quarter 4, 014 decreased by 90% compared to Quarter 4, 2013.
- Expenses for securities trading activities in Quarter 4, 2014 decreased by 53% compared to Quarter 4, 2013 because ECC has not pushed up advisory services of issuing corporate bonds. Besides, ECC implemented proprietary trading. However, unfavourable market leading to expense for provision increased. Thus, After tax profit was loss VND6.97 billion, decreasing VND7.51 billion compared to Quarter 4, 2013. HOSE
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