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HDC: Explanation for business results for 6 months of 2012 before & after review Ba Ria – Vung Tau House Development Joint Stock Company has explained for business results for the first six months of 2012 before & after review as follows:
1.
Single – entity financial statements in the first six months
of 2012 before & after review: By: VND
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Before review
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After review
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Different
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Ratio (%)
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Profit after tax
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10,219,782,500
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18,101,405,800
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7,881,623,300
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77.12
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Reason:
-
Cost of goods sold decreased VND16,129,945,037 because
the company miscalculated the cost from lot A Nam Ky
Khoi Nghia condominium
project to lot B Nam Ky Khoi Nghia condominium project. -
Financial income decreased VND699,794,741 because the company miscalculated to delay the provision
for devaluation of short – term investment stocks. -
Financial expenses decreased VND698,053,879 because the company
delayed the provision for devaluation of
short – term investment stocks of VND699,794,741 and added interest expenses of
VND1,740,862. -
General and administration expenses decreased VND4,925,690,000 because the
company made a provision for bad debts. -
Business income tax – current increased VND3,320,890,875 because profit
before tax increased. 2.
Consolidated
financial statements in the first six months of 2012 before & after
review: By: VND
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Before review
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After review
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Different
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Ratio (%)
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Profit after tax
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10,012,612,817
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17,568,345,369
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7,555,732,552
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75.46
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Reason:
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Profit after tax of parent company rose VND7,881,623,300 -
Redetermination of profits from affiliated and associated
companies led net profit decline by VND1,359,796,659. -
General and administration expenses decreased VND500,000,000 because goodwill arising
from the parent company and its subsidiaries was recorded incorrectly. -
General and administration expenses decreased VND638,399,954 because he allocation of
long term prepaid expenses arising from the parent company and its subsidiaries
was recorded incorrectly. -
Business income tax – deferred went up VND104,494,043
HOSE
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