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CLG: Explanation for business result in Quarter 2.2012 (Parent Company) Cotec Investment and Land-house Development Joint Stock Company (COTECLAND JSC) explained the fluctuation in revenue and profit of Quarter 2/2012 compared to Quarter 2/2011 as follows:
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By: VND
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Year 2011
(audited)
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Quarter 2/2011
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Quarter 2/2012
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Difference between two quarters
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Net
revenue
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205,976,313,324
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58,280,231,702
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51,353,999,294
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-12%
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Gross
profit
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64,030,021,366
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20,714,072,458
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9,040,520,951
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-56%
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Net
profit
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23,504,772,342
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8,033,065,605
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3,924,611,650
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-51%
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-
Gross profit in Quarter 2/2012 decreased by 56% compared to
the same period of 2011, so net profit went down 51%. CLG’s profit in Quarter
2/2012 decreased sharply compared to Quarter 2/2011 mainly because of
difficulties in economy, especially property market. Besides, CLG encounters difficulties
in selling of Blue Sapphire Resort, so its brokerage revenue dropped.
HOSE
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