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THG: Explanation for business result in QIII. 2011
Tien Giang Investment and Construction JSC (HOSE: THG) has explained the fluctuation in profit after tax in QIII/2011 compared to QIII/2010:
By: Million dongs
|
No. |
Item |
QIII/2011 |
QIII/2010 |
Difference |
|
Value |
% |
|
1 |
Net revenue |
26,546.05 |
48,404.76 |
(21,858.71) |
-45.16% |
|
2 |
Cost of goods sold |
25,617.60 |
37,852.93 |
(12,235.33) |
|
|
3 |
Gross profit |
928.45 |
10,551.82 |
(9,623.37) |
-91.20% |
|
4 |
Operating expense |
1,631.81 |
2,972.73 |
(1,340.92) |
-45.11% |
|
5 |
Interest expense |
521.78 |
549.15 |
(27.28) |
|
|
6 |
Profit after tax |
(1,225.14) |
4,569.06 |
(5,794.20) |
|
Profit after tax in QIII/2011 was -VND1,225,137,286 lower than VND4,569,063,635 in QIII/2010, because of the following reasons:
Property projects have been in the process of leveling, so the Company has not gained income while the Company has still paid operating expense.
Revenue in QIII/2011 decreased 45.16% from QIII/2010 because works have been under construction and the Company has not checked and taken over the works. The input expense rose highly and made the ratio of cost of goods sold to revenue in QIII/2010 increase from 78.20% to 96.50% compared to QIII/2011.
HOSE
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