Thai Hoa Vietnam Group Joint Stock Co (coded THV) has released the Q1 reviewed business results for the first quarter of 2012.
Accordingly, the company reported gaining sales revenue of 50.46 billion dong, declining sharply against the figures of 706.3 billion dong in the same period last year. The group suffered loss of 12.27 billion dong, in comparison with profit of 95.73 billion dong in Q1 of 2011.
In the first three months, THV had to pay lending interest of 42.79 billion dong, down 45.41 billion dong over the same period last year. However, the enterprise management costs rose from 14.14 billion dong to 38.56 billion dong.
THV incurred loss of 93.65 billion dong by the end of March, of which the loss for parent company’s shareholders accounted for 88.66 billion dong. In Q1 last year, the group reported profit of 22.27 billion dong.
By the end of Q1, THV had outstanding loans of over 1.964 trillion dong, equivalent to 88 percent of the total asset value.