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Sunday May 10, 2020 13:30 PM (GMT + 7)
This is the largest loss quarter for this company.
According to the recently released financial report for the first quarter of 2020, Mr. Nguyen Ngoc Thuy (Shark Thuy) Apax Holdings investment company (IBC stock code) achieved revenue of VND 242 billion, down 15% compared to the same period last year. .
During the period, expenses increased significantly, in which, interest expenses doubled in the same period, reaching VND 14 billion; Selling and administrative expenses also registered an increase of 77% and 34% compared to the first quarter of 2019 to VND 106 billion and VND 47 billion respectively.
The rising cost and falling revenue caused IBC’s net loss to exceed 170 billion dong, while in the same period profits of more than 5 billion dong were made. This is the loss for the second quarter from the fourth quarter of 2017 and also the loss for the strongest quarter for this unit.
This quarter, Apax Holdings’ cash amount plummeted from VND 530 billion to just VND 145 billion. Meanwhile, short-term prepaid expenses also increased from VND 39 billion to almost VND 110 billion. The total value of short-term assets reached VND 772 billion, 8% less compared to the beginning of the year.
Shark Shui Company has a big hole
Accounts receivable doubled compared to the same period. In which Shark Thuy’s accounts receivable are 6.5 billion dong. At the same time, an additional Shark Thuy VND250 billion was generated. Therefore, the total accounts receivable related to the President of Apax Holdings exceeds VND 250 billion.
Apax Holdings operates in the field of management consulting, education and training. In particular, income from education and training in English centers represent 90% of total income.
The company’s Shark Thuy accounts receivable amounted to more than VND 250 billion
Under the impact of the Covid-19 epidemic, parents have cut spending, which includes spending on children’s education, which has a negative impact on the company’s business. The company also said that with the approval of the Ministry of Education and Training for students at all levels of school leave from February to the end of April 2020, the operation of the entire Apax Holdings chain was directly affected in the first and second trimester. of this year.
In the stock market, IBC’s shares have remained virtually flat in the 20,000-25,000 VND / share price range for the past 3 years.
Source: http: //danviet.vn/lao-dao-vi-covid-19-cong-ty-shark-thuy-lo-khung-nhat-tu-truoc-toi-nay-50202010 …
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