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06-11-2009 10:34 PM #1
ITA: Explanation for business result in quarter 3/2009
Tan Tao Investment Industry Corporation (ITA: ITACO) has explained the decrease of 6.79% total revenue (reached VND345.8 billion) and the increase of 90.7% profit after tax (reached 107.6 billion) in comparison with quarter 2/2009 as follows:
Revenue in quarter 3/2009 decreased because lands were restored. However, in quarter 3/2009 the company increased selling price of lands because the company built infrastructure and the market overcame the crisis. Beside, that leasing price increased but the cost of initial investment did not change made the profit of quarter 3/2009 increased higher than the previous quarters.Watch your thoughts, they become words.
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