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NTL: Explanation for business result in Quarter 4/2011 (consolidated)
Tu Liem Urban Development Joint Stock Company (LIDECO) explained the fluctuation in business results between Quarter 4/2011 and Quarter 4/2010 according to consolidated financial statements:
- Consolidated profit after tax in Quarter 4/2010: 251,535,773,379 VND
- Consolidated profit after tax in Quarter 4/2011: 16,426,391,746 VND
- Decrease difference: 235,109,381,633 VND
Profit in Quarter 4/2011 decreased 93.47% from Quarter 4/2010 because the parent company in Quarter 4/2011 had no infrastructure works in the new residential area project in the north of National Highway No.32. LIDECO’s profit in Quarter 4/2011 was mainly from bank interest and subsidiaries’ construction works.
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