SDP: QII/2011 Operating explaination

According to the Financial Statement Quarter II/2011, profit after tax decreased over 10% in compare to Quarter II/2010. Song Da Trading and Transport JSC explained the decrease in operating result in QII/ 2011 as follows:

- Banking interests in QII/2011 is 21-24%/year, 6% higher in compare to QII/2010 (15-17%/year), equaling VND billion 3 of VND billion 200 borrow;

- Not completing liquidation of contracts of equipment supply including Ethanol Phu Tho and Dung Quat oil filtration factory;

- Monetary tightening policy make interest increase and of critical time of macro economy, many companies had off balance finance and lost payment ability. Therefore, the Company could not get receivables from the contracts, then the average banking borrow of QII/2011 higher VND billion 30- 40 in compare to QII/2010.

HNX

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