Vincom Retail Joint Stock Company has explained the movements of Quarter 3/2019 consolidated financial statements compared to the same period of last year as follows:

The explanation for the movements of 10% or more:

−      Net revenue in Quarter 3/2019 decreased by VND741 billion compared to the same period of last year because: (i) the revenue from real estate for rent and related services provision raised VND410 billion thanks to the new trade centers opened in 2018 went into stable operations in Quarter 3/2019; (ii) the revenue from real estate transfer decreased by VND1,162 billion because Vinpearl Da Nang Riverfront Condotel Project was handed over in Quarter 3/2018. The cost of goods sold also decreased accordingly.

−      Gross profit raised VND124 billion thanks to the profit from real estate projects in the period. 

−      Financial income decreased by VND35 billion because of the decrease in the gain from lending and investment.

−      Financial expense declined by VND35 billion mainly thanks to the decrease in the early payment discounts.  

−      Selling expense went down.

−      Therefore, the Company’s profit after tax grew by VND161 billion thanks to the reasons above.