XMC: QII/2011 business different explanation

XMC: QII/2011 business different explanation

Vinaconex Xuan Mai Concrete & Construction JSC (HNX: XMC) explained difference in profit after tax in the Reviewed financial statement 2011 and QII.2011 of holding company as follows:

• Profit after tax in Financial statement QII.2011: VND19.82 billion

• Profit after tax in Reviewed financial statement 2011: VND8.63 billion

• Difference: VND-11.19 billion

Reasons for the difference:

• Supplementing provision for bad receivables because of revaluation of age of debt of receivables: VND2.5 billion

• Supplementing provision for long-term financial investment in subsidiaries: VND8.78 billion

• Reducing real estate revenue from project of Kien Hung Houses for low income: VND86.28 billion. Thus, profit after tax reduced by VND3.3 billion.

HNX