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TDW: Explanation for business result in Q4.2011
Thu Duc Water Supply Joint Stock Company explained the difference in profit between Quarter 4/2011 and Quarter 4/2010:
TDW’s profit before tax in Quarter 4/2011 was VND7,322,114,253, decreasing by VND5,199,354,497 (-41.52%) from the same period of 2010.
Reason:
- Profit from main activities decreased by VND6,209,670,473 (decreasing by 58.82%), because the Corporation in Quarter 4/2010 bought and sold wholesale clean water through general water meters, so the Company’s expenses have not financed by the Corporation like before. Besides, in Quarter 4/2011, the Company installed 5,035 new free water meters worth over VND9 billion, so costs have increased and affected the Company’s profit in the period. The selling price of clean water of TDW is set by the People’s Committee of Hochiminh City, but the buying price depends on the parent corporation. Therefore, TDW has to focus on water waste prevention in order to reduce costs.
- Financial income and other incomes increased by VND590,863,031 (+24.78%) compared to the same period of 2010 thanks to bank interest.
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