VPK: Explanation for business result in Q1/2009

Vegetable Oil Packing Joint Stock Company (VPK: V.PACK Co.) has explained business result in Q1/2009 as follows:

                                                                                                              Unit: VND

Profit in Q1/09 increased in comparison with Q4/08 due to the following reasons:

* Inventory material prices in Q4/08 was high, the ratio of gross profit/sales was 89.10%. In Q1/09, the company was still affected by price of inventory material although it reduced at the end of 2008. The ratio of gross profit/sales in Q1/09 was 86.22%. Meanwhile, this ratio in Q1/08 was 85.11%.

* Financial expenses in Q1/09 was lower than that in Q4/08 due to decrease of loan interest rate and difference of exchange rate. However, it increased in comparison with that in Q1/08 because of suffering from high interest rate of unpaid debts.

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