HNM: Explanation for negative profit in QIV- 2008

In QIV/2008, Profit after tax of Hanoimilk JSC was VND -41,459,866,600. Hanoimilk JSC explained the negative profit in QIV/ 2008 as follows:

Since 09/2008, the rumour of milk with Melamine has made the income and sale drop by about 50% when the customers turned their back on our products. Because of the rumour, imported powder milk was kept separate for test. After 30/12/2008, when rumours were cleared, the material milk cost much lower than the import time. According to the accounting standard, company set up a fund of over VND 26 billion for decrease in price of inventory. Besides, the selling expenses increased because the company pushes promotion to regain the company’s image.

hastc

>   HLC: Notice of transactions of Directors, PDMR (Mr. Chu Duy Hai) (04/03/2009)

>   HLC: Notice of transactions of Directors, PDMR (04/03/2009)

>   DCS: Explanation for negative profit in QIV- 2008 (04/03/2009)

>   CTC: Board Resolution (04/03/2009)

>   CAP: Notice of transactions of Director, PDMR (04/03/2009)

>   Vietnam Securities Depository: Notice of Depository of KLS for additional securities registration (04/03/2009)

>   SGH: Trading Result of Major Shareholder (04/03/2009)

>   NSC: Trading Result of Major Shareholder (04/03/2009)

>   VIP: The record date for dividend payment and annual shareholders’ meeting (04/03/2009)

>   MCP: Transaction of inside shareholder (Mr. Tran Thanh Tung) (04/03/2009)