TDH: Explanation for the consolidated business result in Quarter 2/2013

Thu Duc Housing Development Corporation (THUDUC HOUSE) explained the consolidated business result in Quarter 2/2013 as follows:

Unit: billion dongs

Item	Quarter 2/2013	Quarter 2/2012	The cumulative 6 months of 2013	The cumulative 6 months of 2012
Net revenue	106,147	85,685	190,643	152,640
Gross profit	15,077	18,374	43,511	28,322
Profit/loss of joint venture company	-396	4,309	-395	8,190
Profit before tax	1,909	5,566	3,126	8,465
Profit after tax	903	5,609	1,088	7,881
Profit after tax of parent company’s shareholders	1,557	8,132	2,332	11,113

 

Net revenue in Quarter 2/2013 was VND106.1billion, increasing 23.9% compared to the same period of 2012. Gross profit was VND25.1 billion, increasing 36.5%, profit before was VND1.9 billion and Profit after tax of parent company’s shareholders was VND1.6 billion, decreasing 80.9% compared to in Quarter 2/2012.

Reasons:

-         Financial income in Quarter 2/2012 was VND4.4 billion, decreasing 78.1% mainly because dividend in Quarter 2/2013 decreased strongly, that was VND3.8 billion. Besides, interest from securities investment was VND0.

-         Economic difficulties, loss of joint venture company in Quarter 2/2013 was VND396 million, while profit of joint venture company in Quarter 2/2012 was VND4.3 billion.

-         Therefore, profit after tax of parent company’s shareholders in Quarter 2/2013 was VND1.6 billion, decreasing 80.9% compared to in Quarter 2/2012.Although the firm cut expenses:

+         Financial expense decreased from VND18.5 billion in Quarter 2/2012 to VND11.5 billion in Quarter 2/2013, decreasing 38.2% compared to Quarter 2/2012.

+         Selling expense decreased from VND1.8 billion in Quarter 2/2012 to VND1.2 billion in Quarter 2/2013, decreasing 33.6% compared to Quarter 2/2012.

+         General and administration expense decreased from VND16.2 billion in Quarter 2/2012 to VND14 billion in Quarter 2/2013, decreasing 13.7% compared to Quarter 2/2012.

-         The cumulative 6 months of 2013, net revenue from selling and service supply was VND190.6 billion, increasing 24.9% compared to in Quarter 2/2012. Profit before tax was VND3.1 billion and profit after tax of parent company’s shareholders was VND2.3 billion.

HOSE

>   NGC: Reviewed financial statement 2013 (21/08/2013)

>   IVS: Reviewed financial statement 2013 (21/08/2013)

>   IDJ: Reviewed financial statement 2013 (21/08/2013)

>   BTS: Reviewed financial statement 2013 (21/08/2013)

>   BID: Explanation for consolidated business results in quarter 2/2013 (21/08/2013)

>   BID: Explanation for consolidated business results in quarter 2/2013 (21/08/2013)

>   BID: Explanation for consolidated business results in quarter 2/2013 (21/08/2013)

>   ASIAGF: NAV from 08 Aug 2013 to 15 Aug 2013 (21/08/2013)

>   BHS: Explanation for business result in Quarter 2/2013 (21/08/2013)

>   BHS: Explanation for business result in Quarter 2/2013 (Consolidated F.S) (21/08/2013)