PNC: Explanation for business result in Q1, 2015

Phuong Nam Cultural Joint Stock Corporation explained business result in Q1/2015 compared to Q1/2014 as follows:

1)     The firm explained business result of parent company in Q1/2015 compared to Q1/2014.

-     Revenue and gross profit in Quarter 1/2015 decreased strongly because the firm separated retail systems to set up Phuong Nam retail Co., Ltd.

-     Interest expense decreased because in Quarter 1/2015, the firm did not loan from banks but the firm loan 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 changed.

2)     The firm explained consolidated business result in Q1/2015 compared to Q1/2014:

-     Revenue in Quarter 1/2015 increased 9% because the firm opened 03 new book shops and moved 03 book shops.

-     Interest expense decreased because in Quarter 1/2015, the firm did not loan from banks but the firm loan from Cross Junction Investment Pte., Ltd.

-     Selling expense increased because the firm opened 02 new book shops.

-     There are the main reasons leading to profit before tax increased VND869,275,925.

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