QCC: Explanation for the change of over 5% in operating result in QIII- 2010

According to the Financial Statement Quarter III/2010, net income decrease compared to Quarter III/2009. Quangnam Post – Telecoms Construction and Services Corporation (HNX: QCC) explained the decrease in operating result in QIII/ 2010 as follows:

- Value of contracts signed in 2010 decreased 50% compared to 2009

- Financial expenses (Interest expenses) increased due to the failure in collecting loans from customers.

- Due to specific trait of construction industry, profit and loss are accounted at the end of Quarter IV, therefore, in the first 9 months of 2010, expenses related to works in progress are no accounted.

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