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VNI: Explanation for differences in profit in Q2.2012 (parent company)
Viet Nam Land Investment Corporation announced the fluctuation in the profit and loss in Quarter 2/2012 compared to Quarter 2/2011:
Unit: dongs
|
Item
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Quarter
2.2012
|
Quarter
2.2011
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Difference
|
%
|
|
Net
revenue
|
725,454,545
|
19,447,994,480
|
(18,722,539,935)
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(96.26%)
|
|
Profit
before tax
|
(880,897,340)
|
435,722,351
|
(1,316,619,691)
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(302.1%)
|
|
Profit
after tax
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(880,897,340)
|
326,791,764
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(1,207,689,104)
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(369.5%)
|
-
Net
revenue from sales and services in Quarter 2/2012 was 725,454,545 dongs,
decreasing 96.26% from the same period of last year. Net loss of 880,897,340
dongs in Quarter 2.2012.
-
Reasons:
+
Difficulties
economic, and slow sales, Real estate market has frozen. Revenue went down
while General and administrative expenses went up 528,143,095 dongs led to
profit before tax loss 880,897,340 dongs, decreasing 1,316,619,691 dongs from
the same period of last year.
+
Loss
after tax due to general and administrative expenses and cost of goods sold were
higher than net revenue from sales and services. Profit after tax in Quarter
2/2012 decreased 369.5% from the same period of last year.
HOSE
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