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:
Unit: VND million
No.
Item
Quarter 4/2022
Quarter 4/2021
Difference
%
10
Net revenue
2,084,406
1,367,010
717,396
52%
11
Cost of goods sold
1,032,199
903,051
129,148
14%
21
Financial income
200,940
87,389
113,551
130%
25
Selling expenses
56,855
80,311
(23,456)
-29%
26
General & administrative expenses
110,128
182,380
(72,252)
-40%
60
Profit after tax
791,471
121,875
669,596
549%
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.