HAGL Joint Stock Company (HAGL) has explained fluctuation of business results in Quarter 4/2012 compared to Quarter 4/2011 as follows:
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Profit
before tax in Quarter 4/2012: 350,505,861 thousand dongs
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Profit
before tax in Quarter 4/2011: 56,628,647 thousand dongs
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Reasons:
1. Real estate business, goods and
services
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Net
revenue in Quarter 4/2012 increased 623 billion dongs (56%) compared to the
same period of 2011 (in Quarter 4/2011: 1,107 billion dongs, in Quarter 4/2012:
1,730 billion dongs).
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Revenue
from constructions in Quarter 4/2012 increased 358
billion dongs compared to in Quarter 4/2011 (in Quarter 4/2011: 37 billion
dongs, in Quarter 4/2012: 395 billion dongs) as the firm’s construction
activities had finished and recorded earnings from outside works in Q4/2012.
Revenue from goods and services in Quarter 4/2012
increased 80 billion dongs (268%) compared to in Quarter 4/2011 (in Quarter 4/2011: 29 billion
dongs, in Quarter 4/2012: 109 billion dongs) because the company sold rubber
latex, booking an income of 46 billion dongs in Quarter 4/2012 while the firm
failed to record this revenue in Quarter 4/2011. Besides, mineral revenue in
Quarter 4/2012 reached 149 billion dongs compared to nothing in Quarter 4/2011.
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Cost
of goods sold in Quarter 4/2012 increased 653 billion dongs (97%) compared to
Quarter 4/2011 (in Quarter 4/2011: 670 billion dongs, in Quarter 4/2012: 1,323
billion dongs). Costs of goods sold were faster the pace in revenue (56%),
resulting in a 7% on year fall in gross profit in Quarter 4/2012. The company
had to lower prices of real estate and products while operating expenses did
not decrease.
2. Financial:
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Financial
incomes in Quarter 4/2012 decreased 67% compared to Quarter 4/2011 (in Quarter 4/2011:
88 billion dongs, in Quarter 4/2012: 29 billion dongs) mainly because income from bank deposits decreased.
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Financial
expenses in Quarter 4/2012 increased 128% (in Quarter 4/2011: 86 billion dongs,
in Quarter 4/2012: 195 billion dongs) mainly because expenses interest increased
70 billion dongs (in Quarter 4/2011: 53 billion dongs, in Quarter 4/2012: 123
billion dongs).
