Ry Ninh Hydropower Company II (RHC): quarter III’s profit declines by 15.25%

06/11/2007 00:00:00 - views: 2,857

Ry Ninh Hydropower Joitn Stock Company II (stock code: RHC – HOSE trading floor) has just announced its operating performance of quarter III and the cumulative total for the 9 first months of 2007.

Accordingly, in quarter III/2007, the Company’s gross profit from selling goods and providing services reached VND 13.963 billion, increasing by 178.61% equalling to VND 8.951 billion in comparison with that of quarter II/2007, and decreasing by 8.9% in comparison with that of quarter III/2006, approximately VND 1.363 billion. The cumulative total for the 9 first months of 2007 saw a year-on-year reduction of 5.74%, which equalled to VND 1.449 billion.

In 3rd quarter of 2007, the after-corporation tax profit was VND 5.617 billion, a 413.6% rise compared to that of 2nd quarter of 2007, approximately VND 4.523 billion but also a 15.25% decline compared to that of 3rd quarter of 2006 equalling to VND 1.011 billion. The cumulative total for the 9 first months of 2007 achieved VND 7.931 billion, which was a 12.57% year-on-year drop of VND 0.997 billion.

The Company’s revenue and profit of quarter III/2007 witnessed a slight year-on-year fall because it had not been up to this July that there was rain and the hydro power source for production is limited although the drought did not last long. In this 3rd quarter, the Company also repaired, maintained and experimentally adjusted equipments in order for effective producing capability in the coming rain season.

Besides, the last 6 months is the main rain season in Tay Nguyen province, so the higher revenue and profit compared to that of quarter II is understandable.

The key sectors that Ry Ninh II focuses on are producing and trading power sales; adjusting power system; installing power, water and information system; repairing electric equipments and processing mechanic equipments; and finally, exploiting, filtering and distributing water.

At the end of the trading session on November 5, the price of RHC stocks surged by 1,000 dongs equalling to 1.89%, and then reached 54,000 dongs/stock with 31,790 stocks transferred.  In the 5 recent trading sessions, RHC stocks well fluctuated when there have been 4 sessions of ballooning with the total change of VND 4,000.

 

Date

Price

Change

% change

Volume

5/11/2007

54,000

1,000

1.89%

31,790

2/11/2007

53,000

2,000

3.64%

26,300

1/11/2007

55,000

2,500

4.76%

19,650

31/10/2007

52,500

2,500

5%

35,380

30/10/2007

50,000

2,000

4.17%

21,220

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