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HVT: Explanation for the difference in the profit after tax of quarter 2.2015 year on year On 30/07/2015, Viet Tri
Chemicals Joint Stock Company explained the difference in the profit after tax
of quarter 2.2015 year on year as follows:
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Target
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Quarter 2.2015
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Quarter 2.2014
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Difference
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+-
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%
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Net revenue
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120,311,108,104
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94,627,676,342
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25,683,431,762
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27.14
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Cost of goods sold
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96,475,543,650
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71,314,255,812
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25,161,287,838
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35.28
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Financial cost
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2,554,242,841
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1,256,489,852
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1,297,752,989
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103.28
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Selling cost
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7,321,571,232
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6,530,090,424
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791,480,808
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12.12
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General and administrative
cost
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6,962,845,207
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7,595,924,060
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(633,078,853)
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(8.33)
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Profit after tax
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5,835,261,753
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6,585,603,800
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(750,342,047)
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(11.39)
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According to the financial
statement of quarter 2.2015, the profit after tax decreased by VND 750,342,047
(equivalent to 11.39%) compared to quarter 2.2014.
Main reason:
1. Selling activities: In
May 2015, the project of transforming the soda manufacturing technology began
to come into operation. Hereby, the production size increased and the product
quality was improved. The consumption market was also expanded. Therefore, the
net revenue of quarter 2.2015 increased by VND 25,683,431,762 (equivalent to
27.14%) over quarter 2.2014.
2. Cost management
The State increased the
electricity price by 7.5% from the end of quarter 1.2015. Therefore, the
electricity cost took account for 40% of total production cost of the Company
so the production cost increased strongly.
Moreover, quarter 2 of 2015
was the after-investment period so fixed costs like depreciated cost or
interest cost increased dramatically. HNX
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