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PXS: Explanation for business result in Quarter 3/2010
Petroleum Equipment Assembly and Metal Structure Joint Stock Company (HoSE: PXS) explained fluctuation in business result between Quarter 3/2010 and Quarter 3/2009 as follows:
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Quarter 3/2010 |
Quarter 3/2009 |
Increase (Decrease) % |
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Revenue |
119,120,924,034 |
44,862,090,804 |
265% |
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Profit after tax |
14,112,356,299 |
2,029,746,941 |
695% |
On November 26, 2009, the Company was changed from a limited company to a joint stock company, increased capital, expanded business fields, and has operated effectively. In 2010, there have been contracts with great value, so revenue in Quarter 3/2010 was higher than Quarter 3/2009. Besides, PXS has co-operated with investor firms to increase the number of balances because new circulars on unit labor costs has been applied.
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