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TDH: Explanation for differences in the consolidated profit in QI.2012 Thu Duc Housing Development Corporation announced the fluctuation in the consolidated profit and loss in Quarter I/2012 compared to Quarter I/2011:
Unit: dongs
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Item
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Quarter 1.2012
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Quarter
1.2011
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Difference
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Net
revenue
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65,954,605,977
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120,761,709,588
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(53,807,103,611)
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Profit
before tax
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2,898,332,859
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27,660,363,044
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(24,672,030,185)
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Profit
after tax
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2,271,391,918
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20,884,670,699
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(18,613,278,781)
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-
Net
revenue from sales and services in Quarter I/2012 was VND66.95 billion,
decreasing 44.6% from the same period of last year. Gross profit was VND9.95
billion, profit before tax was VND2.90 billion and profit after tax was VND2.27
billion, decreasing 89.1% from the same period of last year because of the
following reasons: -
The
economic were very difficult, real estate market froze leading to revenue
decreased, Net revenue from sales and services in Quarter 1.2012 was VND66.95
billion, decreasing VND53.81 billion (or 44.6%) from the same period of last
year. Revenue decreased leading to gross profit was VND9.95 billion, decreasing
VND30.73 billion (or 75.5%) from the same period of last year. -
Financial
income in Quarter 1.2012 decreased VND12.32 billion or 78.6% from the same
period of last year, mainly the company was non-payment investment long-term in
Quarter 1.2011, interest expense increased from VND8.36 billion to VND9.04
billion. -
Profit
in the period decreased because revenue from real estate and financial activity
decreased, while interest expense increased leading to profit after tax in
Quarter 1.2012 was only VND2.27 billion, decreasing 89.1% compared to the same
period of last year. Although, the company saved expenses, general &
administrative expenses decreased from VND14.96 billion (in Quarter 1.2011) to
VND9.62 billion (Quarter 1.2012), decreasing VND5.33 billion or 35.7% compared
to the same period of last year.
HOSE
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