DCL recognized has recorded the after tax profit of VND 12,577 bio in Q1/2015 from parent company. Thus, if the Q1 business momentum is maintained, DCL could possibly record the over VND 25 bio in its 2015 half year annual financial report. Correspondingly, F.I.T will have about VND 15 bio from this new factor.
As revealed by F.I.T (share sticker: FIT), on May 14th, the Company completed the purchase ò 4,355 mio DCL of Cuu Long Pharmarceutical Joint Stock company. With the number of DCL shares owned by F.I.T reached to 5,955 mio, the company has totally reached over 60% of DCL’s chartered capital.
Therefore, Cuu Long Pharmaceutical JSC has officially become a subsidiary of F.I.T, and the business result will be consolidated into F.I.T’s financial statements from Q2/2015.
Discussing with reporters, Mrs. Nguyen Thi Minh Nguyet,F.I.T’s General Director of F.I.T revealed that in the end of Q1/2015, F.I.T had liquidity balance (about more than VND 600 billion was cash on account and high liquidity investment). Meanwhile, the general difficult market situation has facilitated the ownership increase in DCL and the company decided to speed up the negotiation with partners, saving buying cost vs the initially accepted budget.
“The accelerating progress in owning Cuu Long Pharmaceutical vs planned plus the positive changes happening here have contributed an aggressive growth for F.I.T” stated by Mrs. Nguyet.
By the end of Q1/2015, F.I.T has achieved impressive before tax of VND 143 billion, the parent company share holder’s profit ứa up to VND 103 bio, equal to earning per share (EPS) of Q1 of VND 1,529.
Meanwhile, DCL has recorded the parent company after tax profit of VND 12,577 in QI only. Thus, if the Q1 business momentum is maintained, DCL could possibly record the over VND 25 bio in its 2015 half year annual financial report. Correspondingly, F.I.T will have about VND 15 bio from this new factor
