Vicostone (HN:VCS) announced its third quarter consolidated financial statements with nearly VND 1,862 billion in revenue, up 24% over the same period last year. Lower cost of goods sold gross profit increased by nearly 26% to over 679 billion dong. Gross profit margin is 36.5%, higher than 35.8% in the same period.
On the contrary, this period incurred more than 17 billion of foreign exchange losses, causing financial expenses to increase by 66% to more than 31 billion dong. Selling expenses also increased sharply by 87% because the cost of outsourcing services doubled to more than 60 billion. Meanwhile, administrative expenses decreased by 40% to nearly 9 billion dong, mainly due to outsourced service costs, depreciation expenses and expenses in counterfeit currency.
However, in the period, there was more than 17 billion loss in exchange rate difference, causing financial expenses to increase by 66% to more than 31 billion dong. Selling expenses also increased sharply by 87% because the cost of outsourcing services doubled to more than 60 billion. Meanwhile, administrative expenses decreased 40% to nearly 9 billion dong, mainly due to outsourced service costs, depreciation expenses and other monetary expenses.
As a result, after-tax profit reached more than 485 billion dong, up 20% over the same period. This is also the most profitable quarter of the business.
Accumulating 9 months, net revenue increased by 30% to more than VND 5,206 billion and completed 76% of the plan. Profit before tax reached nearly VND 1,542 billion, up 37%, equivalent to 80% of the whole year target. Profit after tax increased by 35%, at more than 1,304 billion VND.
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As of the end of September, the scale of assets reached VND 6,884 billion, up 14% compared to the beginning of the year. Current assets increased by 18% to over 5,792 billion dong, of which the majority were short-term receivables from customers with 2,329 billion dong (up 21%) and inventory with 1,879 billion dong (down 7%).
The company has receivables from related parties of more than 1,535 billion dong, of which large amounts are in Vietnam stone processing (472 billion dong), Stylenquaza Co., Ltd (464 billion dong),... Loan and short-term finance lease debt decreased by 9 billion dong to 1,524 billion dong, long-term loan decreased by 40 billion dong to 159.6 billion dong.
The debt/equity ratio is 36%. As of September 30, the company has 3,018 billion dong of undistributed profit after tax and 89 billion dong of investment and development fund.
Microsoft almost overtakes Apple as the world's most valuable company
A jump in shares of Microsoft (NASDAQ:MSFT) nearly helped the company overtake Apple (NASDAQ:AAPL) as the world's most valuable company on Wednesday, a day before the iPhone maker reported it. quarterly results, according to Reuters.
Fueled by strong quarterly growth in its Azure cloud computing business, Microsoft shares rose 4.2% to end at a record $323.17, lifting its market cap. software maker to $2.426 trillion, just below Apple's $2.461 trillion valuation, according to Refinitiv data.
Shares of Apple fell 0.3% ahead of Thursday's report, with investors questioning the global supply chain crisis that is challenging the company's ability to meet demand for iPhones. how are you.
Microsoft's stock is up 45% this year, with demand for its cloud-based services boosting sales during the pandemic. Apple shares are up 12% in 2021.
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