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FINANCIAL CHRONICLE™ » CORPORATE CHRONICLE™ » OSEA - Overseas Reality Group; towards which direction?

OSEA - Overseas Reality Group; towards which direction?

4 posters

Go down  Message [Page 1 of 1]

factFINDER

factFINDER
Manager - Equity Analytics
Manager - Equity Analytics

http://www.cse.lk/cmt/upload_report_file/628_1305541805985.pdf

Financials released
COMPANY net profits UP by 25%
GROUP net profit DOWN by 35%

Recently OSEA was Recomended by ASIA SECURITIES and is the most favourite in the Sector. Based on latest financials what do you think?

Monster

Monster
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics

Sales of apartments has dropped dramatically when we compare the previous quarter. Still trading much below than NAV.

Fresher


Moderator
Moderator

a quick question,
the group income statement shows cost of sales of apartments as a positive figure. why is this? did i miss anything?

Monster

Monster
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics

npp wrote:a quick question,
the group income statement shows cost of sales of apartments as a positive figure. why is this? did i miss anything?
Segment Result - Sale of Apartments

As of 1Q2011 Net Profit before Tax --> -1.48 million
As of 1Q2010 Net Profit before Tax --> 119.65 million

Fresher


Moderator
Moderator

yes but why is the cost of sales a positive figure in 1Q2010?

Antonym

Antonym
Vice President - Equity Analytics
Vice President - Equity Analytics

@npp: That is probably due to reversal of costs that had earlier been provided for. This happens sometimes in accounting for construction contracts, where estimates of costs to complete the project need to be made.

This is addressed by IAS 11 (International Accounting Standard).

Fresher


Moderator
Moderator

thank you antonym. I'll check on that

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