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HAG: Explanation for business results in QIII/2011
HAGL JSC (HOSE: HAG) has explained fluctuation of business results in QIII/2011 compared to QIII/2010 as follows:
- Profit before tax in QIII/2011: 461,796,917 thousand dongs
- Profit before tax in QIII/2010: 715,047,868 thousand dongs
- Decreased: 35.4%
- Reasons:
+ Financial incomes in QIII/2011 was VND182 billion, decreased by VND724 billion compared to QIII/2010. In QIII/2011, the parent company sold shares of Hoang Anh Construction and Development Houses JSC with profit by VND690 billion
+ Net revenue was VNBD1,384 billion, increased by VND328 billion compared with the same period of last year. Revenue from selling houses by VND802 billion, gross profit by VND422 billion, increased by VND422 billion. Revenue from other selling by VND462.2 billion, increased by VND129 billion compared with the same of 2010, mainly revenue from minerals industry by VND161 billion, gross profit by VND136 billion, increasedVND34.4 billion compared with the same of 2010. Revenue increased by VND68.5 billion leading to selling expenses in QIII/2011 increased by VND26.6 billion. Reason: Selling expense increased because revenue from minerals industry and revenue from selling houses.
HOSE
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