Dinh Vu Port Investment & Development JSC. (DVP) explained a 44.2 percent on year fall in its net profit to VND29.2 billion in Q4/2011 as follows:
The firm attributed its lower profit to higher expenses, forex rate difference in Q4/2011 and higher adjusted net profit in Q4/2010 (following conclusion of the State Audit in 2010).
The STC-listed company generated net revenue of VND120 billion in the quarter, compared to VND102.8 billion over the same period of 2010.
In 2011, the firm posted VND150.3 billion net profit on VND400.9 billion revenue, versus VND141.6 billion and VND327 billion in 2010, respectively.