 SD6: Explanation for the difference in profit of the first 09 months of 2019
HNX - 10/25/2019 9:18:00 AM
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On 15/10/2019, Song Da 6 Joint Stock Company explained the difference in profit of the first 09 months of 2019 as follows:
| No. |
Targets |
First 09 months of 2018 |
First 09 months of 2019 |
Rate |
| A |
B |
1 |
2 |
3 = 2 / 1 |
| 1 |
Total revenue |
440,898,389,215 |
573,210,295,703 |
130% |
| 2 |
Total expenses |
430,049,691,259 |
566,791,893,693 |
132% |
| 3 |
Profit before tax |
10,848,697,956 |
6,418,402,010 |
59% |
| 4 |
Profit after tax |
8,708,243,062 |
5,073,561,158 |
58% |
Profit after tax of the first 09 months of 2019 decreased by 42% year on year because:
+ In the first 09 months of 2019, large constructions which were being implemented by the Company has been completed and handed over to Investor such as XL2 Bidding Package - Parliament buildings, Huoi Quang Hydropower, Dong Nai 5 Hydropower, Song Cho Hydropower, Xekaman 3 Hydropower and Xekaman 1 – Sanxay Hydropower (Laos). The acceptance activities was slower than expectation, therefore, the value of construction in process was very high. Liabilities waiting for settlement and warranty increased. This caused an impact on resources and increased the financial expenses.
+ During the term, the Company moved resources (machineries) to implement the Dak Mi 2 Hydropower Construction at Quang Nam, therefore, expenses increased.
+ Additionally, the Company mainly implemented bidding constructions which have lower profit margin than appointed-contractor constructions as before.
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