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VRE: Explanation for the Quarter 1/2023 consolidated financial statements
HOSE - 4/25/2023 4:13:00 PM
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Vincom Retail Joint Stock Company explained the movements of business result compared to the same period of last year according to the Quarter 1/2023 consolidated financial statements as follows:

                                                                                               Unit: VND million

No.

Item

Quarter 1/2023

Quarter 1/2022

Difference

%

10

Net sales

1,943,276

1,369,460

573,816

42%

21

Financial income

223,816

102,854

120,962

118%

22

Financial expenses

100,408

89,512

10,896

12%

25

Selling expenses

28,678

54,586

(25,908)

-47%

26

General & administrative expenses

79,047

87,799

(8,752)

-10%

60

Profit after tax

1,024,011

377,597

646,414

171%

The explanation for the movements of 10% or more:

−        Net sales in Quarter 1/2023 increased by 574 billion dongs, of which: (i) the revenue from real estate for rent and related services provision increased by 667 billion dongs mainly due to the retail sale recovered well after the epidemic was controlled and the same time opened 03 commercial centers in Quarter 2/2022; (ii) the revenue from real estate transfer decreased by 81 billion dongs.

−        Financial income increased by 121 billion dongs due to the increase in the gain from investment activities.

−        Financial expenses increased by 11 billion dongs mainly due to the increase in bond interest rate.

−        Selling expenses decreased by 25 billion dongs mainly due to the decrease in selling expenses of real estate corresponding to the decrease in revenue. General & administrative expenses decreased by 9 billion dongs due to the reduction of provision for bad debts.

−        The profit after tax increased by 646 billion dongs compared to the same period of last year mainly due to the reasons above.

 

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