BHS: Decrease of profit in Q2/08

Bien Hoa Sugar Joint Stock Company (BSJC) has explained decrease of profit in Q2/08 as follows:

- Profit after tax Q2/08: VND5,882,453,545

- Profit after tax Q1/08: VND10,504,015,856

- Profit after tax Q2/08 decreased 43.99% compared to that in Q1/08.

Reasons:

- There was increase of input expenses such as expenses of materials, fuel, finance, while the signed contracts have still kept the fixed price.

- In Q2/08, the company deducted the amount of VND1,444,316,500 for devaluation provision of securities investment. For long term investment, the company did not set a provision due to its strategic plan.

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