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HT2: Explanation for business fluctuation in quarter 2/2009
Hatien2 Cement Joint Stock Company (HT2: HATIEN2.Co) has explained the business fluctuation in quarter 2/2009 as follows:
1. Revenue in quarter 2/2009 reached VND413 billion and increased VND58 billion (16%) in comparison with that in quarter 1/2009 for increase of sales volume of the main products, included:
* Sales volume of cement in quarter 2/2009 reached 351,088 tons and increased 27,846 tons (8%) in comparison with that in quarter 1/2009. Therefore revenue in the period increased VND32 billion.
* Sales volume of clinker in quarter 2/2009 reached 43,568 tons and increased 23,822 tons (120%) in comparison with that in quarter 1/2009. That made revenue in the period increase VND21 billion.
* Other revenues increased about VND5 billion.
2. Profit after tax of quarter 2/2009 reached VND58 billion, increasing VND20 billion (54%) in comparison with that in quarter 1/2009 because:
* Revenue in quarter 2/2009 increased VND58 billion and cost of goods sold was VND53 billion. That made profit increase about VND5 billion.
* In quarter 1/2009, the company provisionally distributed a interest expense to a project of Long An Cement Grinding Plant (in completion expected soon) but the project will complete till July 2009. So the company adjusted to increase the expense, making profit increase about VND11 billion.
* Because of the seasonal work, the company did not implement big promotions. Therefore, selling expenses increased VND10 billion, making profit increase VND10 billion.
* Other income increased about VND1.3 billion.
In all, profit before tax increased VND27 billion, making profit after tax in quarter 2 increase VND20 billion (54%) in comparison with that in quarter 1/2009.
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