Vinh Long Cereal and Food Corporation (VLF) or Vinh Long Food swung to a net loss of VND7.6 billion in the fourth quarter of last year from a year-earlier positive profit of VND12.25 billion.
The company’s net revenue plunged 47.36% on year to VND277.41 billion during the quarter due to scare input rice, the firm said in its financial statements posted on the Hochiminh Stock Exchange (HoSE)’s website.
Vinh Long Food said the lending expense was 85.7% higher on year and 28.56% higher on quarter, which contributed to the loss in the quarter.
The firm made a net profit of VND34.25 billion on net revenue of VND1.47 trillion last year compared to VND31.68 billion and VND1.7 trillion in 2009 respectively.
The HoSE-listed firm had total assets of VND551.1 billion at the end of last year from VND437.08 billion at the beginning of the year.
On February 15, VLF closed down 3.36% at VND23,000 a share; or trailing P/E at 6.98x, the StoxPlus data showed.