PNC: Explanation for business result in Q4, 2014

Phuong Nam Cultural Joint Stock Corporation explained business result in Q4/2014 compared to Q4/2013 as follows:

1)     The company explained business result of parent company in Q4/2014 compared to Q3/2013.

-         Revenue in Quarter 4/2014 decreased strongly because the firm separated retail systems to set up Phuong Nam retail Co., Ltd. Generated revenue from internal revenue, leasing, online sales.

-         The company had not gross profit from retail systems, gross profit arose from online sales.

-         Financial income arose because interest on saving deposit increased.

-         Interest expense decreased because in Quarter 4/2014, the firm did not bank borrowing but the company borrowed from Cross Junction Investment Pte., Ltd

-         Selling expense and general and administration expense decreased strongly because the firm separated one part of selling expense and general and administration expense in Phuong Nam Cultural Joint Stock Corporation to Phuong Nam retail Co., Ltd.

-         There are the main reasons leading to profit before tax was VND725,107,385.

2)     The firm explained consolidated business result in Q4/2014 compared to Q4/2013:

-         Revenue in Quarter 4/2014 increased 16% because the company opened 03 new book shops and. Finance income increased because interest on saving deposit increased and provider increased discounting on the end of year.

-         Selling expense decreased because in Quarter 3/2014, the firm did not bank borrowing but the firm borrowed from Cross Junction Investment Pte., Ltd.

-         There are the main reasons leading to profit before tax was VND1,038,420,256. 

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