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PVX: Explanation for the change of over 10% in operating result in QIV.2011 compared to QIV.2010
According to the Financial Statement (consolidated) for FY 2011, profit after tax of 2011 decreased more than 10% year on year. PetroVietnam Construction Joint Stock Corporation explained the decrease in operating result in 2011 as follows:
- In 2011, profit after tax of the company is VND 477,820 million, equals to 64.37% compared to 2010 (VND 742,302
- Due to the difficulties of the world’s economy, the high interest and inflation, the price of input materials increased sharply. Therefore, the cost of the Company’s constructions increased. (The financial expenses in 2011 is VND million 330,265 equals to 205.08% compared to VND million 161,041 in 2010.)
- Due to the situation of the stock market, the financial income of the company decreased and equals to 93.2% compared to 2010.
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