Chuong Duong Joint Stock Co (coded CDC) has announced its financial statements for Q2/2012.
In Q2, CDC reached 58 billion dong of revenue, the same as that in 2011. However, cost prices increased by 11 percent, of which cost of construction (accounting for 94 percent total cost price) rose 16.5 percent. CDC’s profit fell down by 44 percent.
CDC’s consolidated profit was 830 million dong in Q2, down 80 percent year-on-year.
Cumulatively in H1/2012, CDC reached 101.6 billion dong of revenue, down 24.3 percent. Its consolidated profit also decreased by 40 percent.
CDC’s profit after tax in 6 months was 4 billion dong, down 60 percent compared with H1/2011.
CDC has accomplished 32.5 percent total revenue plan (312 billion dong) and 23 percent total pre tax profit plan (25 billion dong).
At the end of Q2/2012, the CDC still holds 372 billion dong of inventories, of which cost of in-progress construction was 367 billion dong, accounting for 99 percent of the total.