|
PVX: Explanation for lower profit after tax in financial statement QIV.2012 compared to Quarter IV.2011
(21/02/2013)
Petrovietnam Construction Joint Stock Corporation explained lower profit after
tax in financial statement Quarter IV.2012 compared to Quarter IV.2011 as
follows:
|
Items
|
Amount
in 2012 (VND)
|
Compared
to 2011
|
|
Profit
after tax in financial statement Quarter IV.2012
|
(-)675.8
billion
|
Decrease
|
|
Profit
after tax in financial statement year 2012
|
(-)1,221.9
billion
|
Decrease
|
Reasons
for the difference:
- Some
in-progress projects of the company were not in payment due, some projects did
not meet schedules as planned, some projects were loosing schedules as the
Resolution no 11 of the Government, leading to the reduction in income, profit.
- Some
member of the company met difficulties in real estate business in consumption, capital
mobilization, capital payback while having to covering expenses. The Company made
some provisions to alleviate financial risks.
- In
QIV.2012, general and administration expenses and interest expenses arose while
some completed parts of works at such projects as Thermo-electricity Thai Binh
II Project, Thermo-electricity Vung Ang 1 were not in acceptance and payment
due. HNX
|
