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Refrigeration Electrical Engineering Corporation (REE) gain big profit in last quarter 2014



Refrigeration Electrical Engineering Corporation (REE) announced consolidated financial statements and the 2014 fourth quarter.

Accordingly, Q4 sales was 804 billion - increase 10% over the same period, Financial income reached 102 billion - increase of 38% over the same period.
It is noteworthy that in the fourth quarter, profit from associated companies reached 177 billion, an increase of 282% over the same period. Profit after tax was 407 billion - an increase of 199% over the same period.
For the whole 2014, sales reached 2,629 billion increase 9% over the same period, profit after tax was 1,099 billion - increase 13% over the same period.
REE says Q4 net profit of the company rose sharply over the same period due to corporate profits recorded from the corresponding results in your business arising from associated companies the increase of 148.4 billion.Specifically, profit increased from 106.3 to 254.6 billion in quarter 4/2013 4/2014 billion in the quarter.
At the same time, in quarter 4/2014, nor REE distribution goodwill from the joint venture, link in the same period last year goodwill is allocated to 23 billion.
As of 31/12/2014, cash and cash equivalents almost doubled compared to the year earlier reached 1036.65 billion copper, total assets increased by 1,449 billion to 8403 billion; Profit after tax increased by 585 billion distribution reach 1939 billion.
At the end of 2014, REE was 3,263 billion investment in associated companies and jointly controlled companies. In particular, the value of the largest investment Corporation Pha Lai Thermal Power with 1,268 billion, accounting for 22.35% ownership percentage.

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