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VTB: Explanation of decreasing 10% between 2 periods
Viettronics Tan Binh Joint Stock Company (VTB) has explained the profit before tax in quarter 2/2011 decreased more than that in quarter 2/2010 as follows:
1. Revenue in quarter 2/2011: VND40 billion
Revenue in quarter 2/2010: VND62 billion
Decreased: 35%
2. Profit in quarter 2/2011: VND5.2 billion
Profit in quarter 2/2010: VND9.6 billion
Decreased: 45.5%
Reason: Profit in quarter 2/2011 decreased compared with quarter 2/2010 because the company are broken the remaining profit of previous years from a joint venture.
Fluctuation of the market, price of material increased, while the prices is difficult. Thus, although sales in the quarter 2 / 2011 lower than 2/2010 but you profit from production and business operations this quarter is the better than last year.
Financial statement
VTB: Violation of information disclosure of affiliated person 