FPC suffers Q3 loss of nearly 11b dong due to no new contract

Full Power Joint Stock Co (coded FPC) has lately released the combined financial reports in Q3 with loss of 10.7 billion dong due to the fact that there was no new contract to be signed during the period. In the first nine months of this year, the company has suffered total loss of over 52 billion dong.

In Q3, the company reported gaining net revenue of more than 11 billion dong, down 80 percent against the same period last year.
The company explained about the decline was that FPC did not sign any new contract but only concentrated on implementing the in-progress projects.

Meanwhile, the company’s financial activities brought in negative 2.4 billion dong of revenue, but the enterprise management cost and other costs counted for 8 billion dong, resulting in Q3 loss of 10.7 billion dong, compared to loss of Q3 of 2009 at 8 billion dong.

In the first three quarters of this year, FPC reported suffering accumulative loss of 52 billion dong.

 

Category: Business