PLC: Explanation for the change of over 5% in operating result in QIV- 2009

According to the Financial Statement Quarter IV/2009, Profit before tax increased of 313.06% compared to Quarter III/2009. Petrolimex Petrochemical JSC explained the increase in operating result in QIV/ 2009 as follows:

- Business of the company’s continued stability and high growth: Consumed output of and selling price of Q4/2009 are higher than Q3/2009, therefore, revenue of Q4/2009 increase 25.53% compared to Q3/2009 (VND 252,436 bil). On the other hand, the cost price of major imported material tend to decreased compared to Q3/2009, causing the increase in gross profit of the company (84.83%).

- Financial expenses increased 153.55% compared to Q3/2009 because in November, the State Bank has increased the inter-bank foreign exchange rate, causing the increase in financial expenses due to foreign exchange differences.

- Due to the effective costs management policies, Operating expenses of Q4/2009 is equivalent to Q3/2009 while gross sales and gross profits sturdily increased.

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