V15: QII/2011 operating results explanation

Vietnam Construction JSC No.15 (HNX: V15) explained the change of over 10% in operating result in QII/2011 as below:

1. Balance sheet:

Total assets and total resources increased by VND 13.101 billion compared to time before reviewing because the Company received VND 15.468 billion from using land of Vung Huong project and VND 0.067 billion from interest expenses for construction in progress, inventory items in assets and resources increased. Simultaneously, the Company noted receivables from dividend valuing VND 0.161 billion and VND 2.595 billion into cost of goods sold

2. Income statement:

Profit before tax in the first 6 months of 2011 after reviewing decreased by VND 2.465 billion compared to time before reviewing because construction in progress (Depreciation mainly) valuing VND 2.595 billion made costs of goods sold increase. Besides, financial revenue increased by VND 0.161 billion because of dividend of 2010 based on Annual General Meeting of Shareholders of Vinaconex Glass Fiber Reinforced Polyester Pipe Joint Stock Company and Vinaconex Packing Joint Stock Company (VIPACO). Financial expenses increased by 0.031 billion because the Company noted interest expenses.

HNX

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