According to the Financial Statement Quarter IV/2011, profit after tax decreased over 10% in compare to Quarter III/2010. Song Da 207 JSC explained the decrease in operating result in QIII/ 2011 as follows:
The profit after tax of QIV/2011 is VND -16,988,566,989 with a decrease of 677.83% compared to QIV/2010 (VND 2,940,068,088). This because:
- Gross goods sale decreased to 73.69% due to the delaying of liquidation and investment reclaim;
- Financial expenses increased to 217.67% with high rate of banking interest and ineffective investment into real-estates.