ANV: Explanation for business result in Q2/09

Nam Viet Corporation (ANV) has explained business result in Q2/09 as follows:

- Sales in Q2/09 increased 42.05% compared to that in Q1/09:

Reason: Sales of fillet cat fish rose 37.60% in comparison with Q1/09      

- Loss in Q2/09 decreased 70.07% compared to that in Q1/09.

Reasons:

- The company has been proactive to check production line, improve management ability in factories in order to cut spending and rationalize production.

- Although selling price in Q2/09 was not higher than that in Q1/09, COGS rapidly declined. Thus gross profit in Q2/09 reached VND5.5 billion, meanwhile gross profit in Q1/09 was (-VND18 billion).

- Government supported interest rate for businesses; therefore, financial income of the company in Q2/09 was more than VND16.6 billion. The financial income in Q1/09 was over (-VND6 billion).

hose

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