HAG: Explanation for business results in Quarter 4/2010

HAGL Joint Stock Company (HAGL) (HOSE: HAG) has explained business results in Quarter 4/2010 compared to Quarter 4/2009 as follows:

- Profit before tax in Quarter 4/2010: 800,354,613 thousand dongs

- Profit before tax in Quarter 4/2009: 491,466,617 thousand dongs

- Increased: 62.8%

- Reasons:

Net revenue in Quarter 4/2010 was 1,444 billion dongs, increasing by 32.8% compared to VND1,087 billion in Quarter 4/2009. In which, revenue from selling houses in Quarter 4/2010 gained 1,040 billion dongs, increasing by 29.7% from 801 billion dongs in Quarter 4/2009. This made profit in real estate in Quarter 4/2010 got 496 billion dongs, increasing by 21% compared to 411 billion dongs in the same period of prior year. Although revenue from sale just accounted for 35% of revenue from sale in Quarter 4/2009, revenue from construction contracts in Quarter 4/2010 increased sharply and helped the gross profit of this industry reached 243 billion dongs. Besides, in Quarter 4/2010, the Group had revenue from hydroelectric industry worth 22.6 billion, and gross profit was 16 billion dongs (Dak Srong 2 Project with a capacity of 24 MW started operating on October 28, 2010). 

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