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VRE: Explanation for the 2021 separate financial statements Vincom Retail Joint Stock Company has explained the movements of the 2021 separate financial statements compared to the same period of last year as follows:
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Unit: VND million
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No.
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Item
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2021
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2020
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Difference
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%
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10
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Net sales
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2,274,053
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3,811,236
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(1,537,183)
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-40%
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11
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Cost of goods sales
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1,400,808
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2,246,996
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(846,188)
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-38%
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25
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Selling expenses
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118,498
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162,351
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(43,853)
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-27%
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|
51
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Current corporate income tax expenses
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122,454
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255,537
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(133,083)
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-52%
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|
60
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Profit after tax
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457,392
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1,005,105
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(547,713)
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-54%
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The explanation for the movements of 10% or more:
− Net sales in 2021 decreased by 1,537 billion dongs: (i) the revenue from real estate for rent and related services provision decreased by 1,132 billion dongs mainly due to rent exemption during the period of social distancing and support to reduce rent for tenants; (ii) the revenue from real estate transfer decreased by 335 billion dongs because the commercial townhouses being handed over in a smaller amount compare to the same period last year. The cost of goods sold and services decreased accordingly.
− Cost of goods sold decreased 44 billion dongs mainly due to: (i) the consultancy costs, brokerage commissiondecreased by 19 billion dongs; (ii) marketing expenses, costs of goods sold decreased 25 billion dongs.
− Corporate income tax expenses decreased by 133 billion dongs compared to the same period last year due to the reasons above.
− The Company’s profit after tax decreased 548 billion dongs compared to the same period last year due to the reasons above. HOSE
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