Thursday, 15/12/2011 09:27

MTG: Explanation for business results in Q3/2011

MT Gas JSC (HOSE: MTG) has announced explanation for business result in quarter 3/2011 as follows:

Unit: million dongs

Items

Quarter 3/2011

Quarter 3/2010

Rate

Difference

Net revenue

137,404.63

78,576.93

42.8

58,827.70

Gross profit

3,848.56

1,696.90

55.9

2,151.66

Financial expenses

4,531.69

4,178.86

7.78

352.83

Interest expenses

3,015.60

508.93

83.12

2,506.67

Profit after tax

152.05

(1,805.50)

 

1,957.55

In quarter 3/2011, business results higher than quarter 3/2010 because:

- Revenue increased, cost of goods sold decreased leading to gross profit increased compared to quarter 3/2010. Beside, in quarter 3/2011 structure of petrol productions hold the weighting higher than quarter 3/2010 leading to revenue increased and profit high

- In quarter 3/2010 financial expenses increased leading to profit decreased

The estimated LPG price in the world in quarter 3/2010 decreased leading to business result in quarter 3/2010 loss by 1,805,50 million dongs.

HOSE

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