SAM: Explanation for business result in Q2/2010
Sacom Development and Investment Corporation has explained business result in Q2/2010 as follows:
* Sales in Q2/2010 increased VND70,271,422,575 or 62% compared to Q2/2009
* After-tax profit in Q2/2010 decreased VND114,371,935,471 or 70% compared to Q2/2009
Reasons:
* Business of the company has run stably
* Decrease of after-tax profit in Q2/2010 due to the following issues:
+ Reverse of financial investment provision (VND199,834,305,000) which was deducted in the previous quarters.
+ Corporate tax reduction in Q2/2009 of the government to stimulate the economy
Although after-tax profit in Q2/2010 decreased in comparison to Q2/2009, business result in Q2/2010 still run well.
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