CSM: Explains 22-Fold Net Profit Increase in Q3/2012

Its revenue fell by VND19.7 billion to VND760.2 billion mainly due to deductions on prices and a decrease in market demand.

Gross profit increased by VND126 billion to VND179.7 billion thanks to a 20% on year decrease in costs of goods sold to VND580.4 billion.

Costs of goods sold fell by VND145.8 billion as the company reserved low-priced materials and saved energy and production costs in the quarter.

Financial expenses descended by VND12.8 billion because of lower interest expenses and interest rates.

Selling expenses rose by VND13.6 billion due to the promotion and commission policy to push up sale.

General and administrative expenses jumped by VND27 billion as the HOSE listed firm spared salary fund for its staff and provisions as regulated.

The HOSE-listed company earned VND186.2 billion net profit on VND2.28 trillion net revenues in the first nine months, rising 954.5% and 4.92% from a year back, respectively.