VRC: Explanation for business results of Quarter 1/2013
Vung Tau Real Estate and Construction Joint Stock Company has explained for business results of Quarter 1/2013 as follows:
- In Quarter 1/2013, VRC loss VND620,688,550 because:
+ Revenue from the construction works that the holding firm assigned its two subsidiaries was equal to costs of goods sold.
+ Real estate projects were in the progress of investments.
+ Revenues in Q1/2013 were mainly from contracts of leasing real estate
+ Interest rate was high.
+ General and administration expenses decreased not much.
HOSE
