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VRE: Explanation for the 2019 consolidated financial statements Vincom Retail Joint Stock Company has explained the movements of the 2019 consolidated financial statements compared to the same period of last year as follows:
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Unit: million dongs
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No.
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Item
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2019
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2018
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Difference amount
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Difference ratio
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10
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Net revenue
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9,259,257
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9,123,952
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135,305
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1%
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11
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Cost of goods sold
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4,855,637
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5,482,655
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(627,018)
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-11%
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21
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Financial income
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265,083
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519,224
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(254,141)
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-49%
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22
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Financial expense
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302,500
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417,400
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(114,900)
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-28%
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|
26
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Administrative expense
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448,658
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342,1 15
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106,543
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31%
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60
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Profit after tax
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2,851,933
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2,413,227
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438,706
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18%
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The explanation for the movements of 10% or more:
- Cost of goods sold decreased 627 billion dongs compared to 2018, or 11%, due to: (1) the cost of real estate for rent and related services increased 640 billion dongs corresponding to the increase in the income from real estate for rent and related services (up 1,511 billion dongs); (ii) the cost of real estate transfer decreased 1,334 billion dongs corresponding to the decrease in the income from real estate transfer.
- Financial income decreased by 254 billion dongs because of the decrease in the gain from lending and investment.
- Financial expense declined by 115 billion dongs compared to 2018, or down 28%, mainly because of: (i) the decrease in interest expense by 74 billion dongs, (ii) the other financial expenses decreased 39 billion dongs thanks to the decrease in the early payment discounts.
- Therefore, the Company’s profit after tax grew by 438 billion dongs, equivalent to 18%, compared to the previous year thanks to the reasons above.
HOSE
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