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VRE: Explanation for the Quarter 4/2022 consolidated financial statements Vincom Retail Joint Stock Company has explained the movements of Quarter 4/2022 consolidated 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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Quarter 4/2022
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Quarter 4/2021
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Difference
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%
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10
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Net revenue
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2,084,406
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1,367,010
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717,396
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52%
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11
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Cost of goods sold
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1,032,199
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903,051
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129,148
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14%
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21
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Financial income
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200,940
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87,389
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113,551
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130%
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25
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Selling expenses
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56,855
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80,311
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(23,456)
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-29%
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26
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General & administrative expenses
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110,128
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182,380
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(72,252)
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-40%
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60
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Profit after tax
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791,471
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121,875
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669,596
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549%
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The explanation for the movements of 10% or more:
− Net revenue in Quarter 4/2022 increased by 717 billion dongs: (i) the revenue from real estate for rent and related services provision increased by 1,015 billion dongs mainly due to the retail industry recovered well after the Covid-19; (ii) the revenue from real estate transfer decreased by 284 billion dongs. The cost of goods sold and services decreased accordingly.
− Financial income increased by 113.5 billion dongs because of the increase in the gain from investment activities.
− Selling expenses decreased by 23 billion dongs mainly due to the decrease in the commission costs of real estate projects.
− General & administrative expenses decreased by 72 billion dongs mainly due to the decrease in provision for doubtful debts.
− The Company’s profit after tax increased by 669.6 billion dongs compared to the same period last year due to the reasons above. HOSE
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