Cuu Long Pharmaceutical JS Corporation (DCL) explained a net profit of VND13.5 billion in Q4/2011 from a loss of VND33.8 billion a year ago as follows:
The firm attributed its higher profit to lower selling expenses as these expenses are recorded every month since 2011 instead of end-year as in 2010.
The STC-listed company generated net revenue of VND228.7 billion in the quarter, compared to VND15.6 billion over the same period of 2010.
In 2011, the mother firm posted VND6 billion net profit on VND685.9 billion net revenue, compared to VND11.2 billion and VND555 billion in 2010, respectively.
The holding company had total assets of VND872.9 billion at the end of the year, against VND791.4 billion at the beginning of the year.