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CTI: Explanation for business result in Q4/2011
Cuongthuan Investment Corporation has explained the fluctuation in business result of Quarter 4/2011 compared to Quarter 4/2010:
- Profit after tax in Quarter 4/2011: VND753,458,078
- Profit after tax in Quarter 4/2010: VND7,732,915,908
Compared to Quarter 4/2010, CTI’s profit after tax in Quarter 4/2011 decreased 90.26% because:
+ Revenue from production and trading of concrete sewer pipe in Quarter 4/2011 decreased.
+ Price of materials rose.
+ Interest expense increased because bank interest rates went up and the debts which were disbursed to finance projects also rose but there have not been incomes in the period.
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