|Vinh Long Cereal and Food Corporation or Vinh Long Food (VLF) said its net profit tumbled 17.29% on year to VND2.5 billion in Q2/2012.
The firm attributed its lower profit to a 5.87% fall in selling prices, 2.57% rise in capital costs, the firm said in a filing posted on the Hochiminh Stock Exchange’s website on July 20.
The firm’s net revenue reached VND446.43 billion in the second quarter, up 0.37% on year but due to high input costs, its gross profit fell 33.41% to VND18.11 billion in the period.
Financial expense fell 31.12% on year to VND16.83 billion and selling expenses also declined 16.31% in the quarter.
In H1/2012, Vinh Long Food made a net profit of VND6.25 billion, up from VND5.12 billion in H1/2012.
The HoSE-listed firm had total assets of VND1.1 trillion at the end of the period from VND583.2 billion at the beginning of the year, according to its balance sheet.