HMC: Explanation for Q3 business result

Hochiminh City Metal Corporation (HMC) explained the fluctuation in business result in Quarter 3/2009 compared to Quarter 2/2009:

* Profit before tax in Quarter 2/2009: VND6,066,365,000

* Profit before tax in Quarter 3/2009: VND10,613,228,786

Profit before tax in Quarter 3/2009 was 74.95% higher than in Quarter 2/2009.

Reason:

In Quarter 3/2009, the demand of steel in Quarter 3/2009 was high, so the Company stepped up sales, increasing the Q3 revenue by 27.1% compared to Quarter 2/2009. The price of steel in Quarter 3 also went up, pushing the profit in Quarter 3 up 74.95%.    

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