HAGL Joint Stock Company (HAGL) has explained fluctuation of business results in Quarter 2/2012 compared to Quarter 2/2011 as follows:
-
Profit
before tax in Quarter 2/2012: 405,444,085 thousand dongs
-
Profit
before tax in Quarter 2/2011: 111,900,601 thousand dongs
Reasons:
1. Real estate business, goods and
services:
-
Net
revenue in Quarter 2/2012 increased 26.3% compared to the same period of last
year ( in Quarter 2/2011: 251 billion dongs, in Quarter 2/2012: 317 billion
dongs).
+
Minerals
industry: in
Quarter 2/2011: 12 billion dongs, in Quarter 2/2012: 180 billion dongs,
increasing 160 billion dongs because the contribution of ores from Kontum mines
sold in the period.
+
Electricity industry: in Quarter 2/2011: 21 billion dongs, in Quarter 2/2012: 41
billion dongs, increasing 20 billion dongs because Đăksrông 3B Project started
operation in May and Đăksrông 2A Project started operation in June.
+
Real estate business: in Quarter 2/2011: 4.4 billion
dongs, in Quarter 2/2012: 28.2 billion dongs, increasing 23.8 billion dongs.
-
But
cost of goods sold in Quarter 2/2012 increased 50 billion dongs compared to the
same period of last year (in Quarter 2/2011: 139 billion dongs, in Quarter
2/2012: 191 billion dongs), leading to profit only rose 14 billion dongs (in
Quarter 2/2011: 112 billion dongs, in Quarter 2/2012: 126 billion dongs).
2. Financial:
-
Financial
incomes in Quarter 2/2012 decreased 221 billion dongs compared to Quarter
2/2011 (in Quarter 2/2011: 522 billion dongs, in Quarter 2/2012: 301 billion
dongs) mainly because in Quarter 2/2011, HAG sold its stake in subsidiary and
booked a profit of VND405 billion in financial income. While in Quarter 2/2012:
221 billion dongs, decreasing 184 billion dongs compared to Quarter 2/2011.
-
Financial
expenses in Quarter 2/2012 increased 76 billion dongs mainly because expenses
interest rose 58 billion dongs (in Quarter 2/2011: 82 billion dongs, in Quarter
2/2012: 140 billion dongs).
