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IJC: Explanation for business result in Q2/2010
Becamex Infrastructure Development Joint Stock Company has explained business result in Q2/2010 as follows:
After-tax profit in Q2/2010 increased 39% compared to the same period 2009
Reasons:
1. Items caused increase of profit
- Gross profit rose VND19,776 million or 73.62% because of the following issues:
+ Sales of real estate was up to VND15,064 million. Prime cost of real estate dropped VND3,462 million. This led to a VND18,526 million increase of gross profit of real estate.
+ Earnings from fee collection rose VND1,378 million, direct expenses for fee collection increased VND128 million. Gross profit of the activity increased VND1,250 million
- Financial income rose VND1,342 million or 228.4% due to earnings from bank deposit
- Total increasing amount of profit: VND21,118 million
2. Items caused decrease of profit
- Selling expenses rose VND2,164 million or 57%
- Expenses of corporate management rose VND1,189 million or 73.91%
- Financial expenses rose VND9,960 million or 124.95% due to increase of bank loan
- Current corporate income tax increased VND2,656 million because of a 30% tax reduction of the government in 2009.
- Other profit declined VND49 million
- Total decreasing amount of profit: VND16,018 million.
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