Gemadept Corporation has explained the decrease in profit of Quarter 2/2019 compared to Quarter 2/2018:
Quarter 2/2019
Difference
Profit after tax of parent company
VND90,058,748,283
VND119,517,114,483
-VND29,458,366,200
Reason:
Profit after tax of parent company in quarter 2, 2019 was more than VND90 billion, decreasing VND29.4 billion compared to Quarter 2, 2018 because:
- Profit before tax from business increased VND8.1 billion because the firm bought asset for the business and port operations, logistics, therefore expense for fixed asset depreciation went up.
- Profit from financial activity decreased VND16.5 billion because interest expense increased.
- Income tax went up VND4.8 billion.