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VLF: Explanation for business results in Q1.2015 Vinh Long Cereal And Food Import Export Company has announced explanation for consolidated profit after tax in quarter 1/2015 compared to Quarter 1/2014 as follows:
By: VND
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Items
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Quarter 1/2015
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Quarter 1/2014
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Difference
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Sales products
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6,279.4
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20,290.7
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-14,011.3
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Net income
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58,382,803,590
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231,041,177,924
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-172,658,374,334
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Cost of goods sold
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54,877,380,829
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221,234,000,748
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-166,356,619,919
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Gross profit
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3,505,422,761
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9,807,177,176
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-6,301,754,415
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Financial income
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700,429,417
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5,224,592,922
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-4,524,163,505
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Financial expenses
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6,122,767,186
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6,055,603,695
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67,163,491
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Interest expense
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5,568,888,568
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6,332,671,495
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-763,782,927
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Selling expenses
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4,511,306,211
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8,001,227,422
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-3,489,921,211
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General & administrative expenses
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5,162,628,163
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11,090,963,486
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-5,928,335,323
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Net operating profit
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-11,590,849,382
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-10,116,024,505
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-1,474,824,877
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Other profit
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1,084,198,655
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15,656,361,730
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-14,572,163,075
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Gain or loss in associated companies and joint ventures
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Profit before tax
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-10,506,650,727
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5,540,337,225
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-16,046,987,952
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Profit after tax
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-10,530,588,533
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4,267,053,099
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-14,797,641,632
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Reason:
- Export difficulties, sales volume was short and sales price decreased, leading to costs of goods sold, gross profit decreased.
- Financial income decreased. HOSE
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