Thu Duc Housing Development Corporation (THUDUC HOUSE) explained the business result of parent company in Quarter 3/2012 as follows:
|
Item
|
In Quarter 3
|
9 months
|
|
2012
|
2011
|
2012
|
2011
|
|
Net
revenue
|
18,403
|
27,674
|
71,914
|
239,411
|
|
Gross
profit
|
8,337
|
7,338
|
28,100
|
83,103
|
|
Profit
before tax
|
2.6
|
(7,850)
|
4,715
|
41,163
|
|
Profit
after tax
|
2.6
|
(5,804)
|
4,481
|
34,641
|
-
Net
revenue from selling and service supply in Quarter 3/2012 was VND18.4billion,
decreasing 33.5% compared to the same period of 2011. Gross profit was VND8.3 billion,
profit before tax and profit after tax was VND2.6 million (lost after profit in
Quarter 3/2011 was VND5.8 billion).
-
Reasons:
+
The
sluggish real estate market so net revenue from sales and services in Quarter
3/2012 was VND18.4 billion, decreasing 33.5% compared to the same period of
last year. But cost of goods sold went down strongly 50.5% because gross profit margin
increased from 26.5% in Quarter 3/2011 to 45.3% in Quarter 3/2012 and reach
VND8.3 billion, increasing 13.6% compared to the same period of last year.
+
Financial
expense fell 39.8% from VND14.3 billion in Quarter 3/2011 to VND8.6 billion in
Quarter 3/2012 mainly because interest expense went down VND6.3 billion or 49.6%
compared to the same period of 2011.
+
Expenses
from activities went down, general and administration expenses went down 30.7% (VND2.2
billion from VND7billion (in quarter 3/2011) to VND4.9 billion (in quarter 3/2012).
+
Although
revenue in Quarter 3/2012 decreased, profit after tax was VND2.6 million.
+
In
9 months of 2012, net revenue from selling and service supply was VND71.9
billion, gross profit was VND28.1 billion and profit after tax was VND4.5
billion.
