HAGL Joint Stock Company (HAGL) has explained fluctuation of business results in Quarter 1/2012 compared to Quarter 1/2011 as follows:
- Profit before tax in Quarter 1/2012: 98,626,285 thousand dongs
- Profit before tax in Quarter 1/2011: 593,731,963 thousand dongs
- Reasons:
1. Net revenue from real estate business, goods and services was 871 billion dongs increasing 154 billion dongs compared to the same period of last year, in which:
- Revenue from selling houses in Quarter 1/2012 increased 389 billion dongs
- Revenue from supply service in Quarter 1/2012 increased 17 billion dongs
- Revenue from selling electricity in Quarter 1/2012 increased 16 billion dongs
But:
- Revenue from selling goods in Quarter 1/2012 decreased 214 billion dongs
- Revenue from construction contract in Quarter 1/2012 decreased 55 billion dongs.
- Cost of goods sold increased, so gross profit decreased 92 billion dongs .
2. Financial incomes in Quarter 1/2012 decreased 346 billion dongs compared to Quarter 1/2011 because in Quarter 1/2011, the parent company sold shares of subsidiaries with profit 359 billion dongs.
- Financial expense increased 44 billion dongs because interest rate expense went up
