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HAS: Explanation for financial statements of quarter 3/2010
Hanoi P & T Construction & Installation Joint Stock Company (HoSE: HAS) has explained profit in quarter 3/2010 decreased 30.5% beside quarter 3/2009 as follows:
* Revenue reached 16,975 billion dongs and increased 26.4% in quarter 3/2010 beside quarter 3/2009. Accumulated revenue in 09 months 2010 reached 42.849 billion dongs. Profit after tax in quarter 3/2010 reached 425 million dongs and accumulated profit reached 2.499 billion dongs in 09 months 2010.
* The company had projects of burying cables of Hanoi City and had to supply material for the projects. Therefore, rate of profit over revenue was rate.
* In quarter 3/2010, the company added 495 million dongs of expenses into provision for short-term securities devaluation. However, in quarter 3/2009, the company reversed 369 million dongs of the provision.
* Beside, general and administrative expenses in quarter 3/2010 increased 21% beside quarter 3/2009 because in the quarter 3/2010, 567 million dongs of salaries of managers was added expenses while in quarter 3/2009, the salaries were 235 million dongs. And in quarter 3/2009, the company was exempted 30% of corporate income tax but not in quarter 3/2010.
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