Tuesday, 02/02/2010 19:21

RHC: Revised of QIV- 2009 FS and Explaination for the change of over 5% in operating result in QIV- 2009

Due to the negligence, the company has attached the brief Financial statement of Quarter II/2009 instead of Quarter IV/2009. Ry Ninh II Hydroelectric JSC would like to revised the information and explained the decrease in operating result in QIV/ 2009 as follows:

- Revenue of QIV/2009: VND 15,622,990,209. Revenue of Q3/2009: VND 14,520,766,898. Revenue of QIV/2009 increased 107.6% compared to Q3/2009.

- Profit after tax of QIV/2009: VND 5,716,715,692, decreased 6.33% compared to that of QIII/2009 (VND 6,103,235,224).

- The feature of business line of RHC is electricity production depending on water power. The last 06 months is rain season in Tay Nguyen, and therefore majority of revenues of the company came from QIII and QIV. Net income of QIV/2009 decreased compared to Quarter III/2009 due to the company has accounted to distribute business advantages cost into QIV/2009, causing the increase in Cost of goods sold and decrease in net profit.

hnx

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