HLG: Explanation for business results in Q4/2009

Hoang Long Group (HOANG LONG) has explained the business results of quarter 4/2009 as follows:

Profit before tax of quarter 4/2009 was VND26,905,664,546

Profit before tax of quarter 3/2009 was VND40,557,102,271

Profit before tax of quarter 4/2009 decreased 33.7% (Equivalent to VND13,651,437,725) beside quarter 3/2009 because:

Items made profit before tax decrease VND18.8 billion

* Gross profit decreased VND13.9 billion including VND6 billion of business in building sand because expenses in quarter 4/2009 were high. Beside, gross profit from property business in quarter 4/2009 decreased VND8 billion beside the result in quarter 3/2009.

* Administration expenses increased VND4.9 billion including VND2.9 billion of salary expense for the thirst-month salary, VND735 million of operation expense for the 10-year ceremony of the company foundation and VND700 million of provisions for bad debts.

Items made profit before tax increase VND5.4 billion.

* The other profit increased VND5.4 billion because the company liquidated the fixed assets unused in quarter 4/2009.

hose

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