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VRE: Explanation for the 2019 separate financial statements Vincom Retail Joint Stock Company has explained the movements of Quarter 3/2019 separate 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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3,808,486
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1,526,303
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2,282,183
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150%
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11
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Cost of goods sold
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2,344,237
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1,017,675
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1,326,562
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130%
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21
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Financial income
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3,433,674
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l,337,762
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2,095,912
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157%
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22
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Financial expense
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275,249
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351,290
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(76,041)
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-22%
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25
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Selling expense
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156,695
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59,787
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96,908
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162%
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26
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Administrative expense
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96,375
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40,959
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55,416
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135%
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60
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Profit after tax
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4,102,673
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1,227,590
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2,875,083
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234%
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The explanation for the movements of 10% or more:
- Net revenue increased 2,282 billion dongs because: (i) the revenue from real estate for rent and related services raised 857 billion dongs because the new trade centers opened in 2018 went into stable operations; (ii) the revenue from real estate transfer increased by 1,344 billion dongs. The cost of goods sold also increased accordingly.
- Financial income increased by 2,096 billion dongs because of: (i) the increase of 2,392 billion dongs in the interest from subsidiaries; (ii) the decrease of 296 billion dongs in the gain from lending and deposit.
- Financial expense declined by 76 billion dongs compared to 2018, mainly because of the decrease in interest expense by 74 billion dongs.
- Selling expense and administrative expense increased with the growth of revenue.
- Therefore, the Company’s profit after tax grew by 2,875 billion dongs compared to the previous year thanks to the reasons above.
HOSE
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