Vincom Retail Joint Stock Company has explained the movements of the 2021 consolidated financial statements compared to the same period of last year as follows:

The explanation for the movements of 10% or more:

−        Net sales in 2021 decreased by 2,438 billion dongs: (i) the revenue from real estate for rent and related services provision decreased by 1,307 billion dongs mainly due to rent exemption during the period of social distancing and support to reduce rent for tenants; (ii) the revenue from real estate transfer decreased by 1,145 billion dongs because the commercial townhouses being handed over in a smaller amount compare to the same period last year. The cost of goods sold and services decreased accordingly.

−        Financial income increased by 111 billion dongs because of the increase in the gain from investment activities.

−        Cost of goods sold decreased 128 billion dongs mainly due to: (i) staff costs decreased by 21 billion dongs and marketing expenses decreased by 101 billion dongs.

−        Current Corporate income tax expenses decreased by 240 billion dongs compared to the same period last year due to the reasons above.

−        The Company’s profit after tax decreased 1,067 billion dongs compared to the same period last year due to the reasons above.