TRA: Explanation for Q4/2009 Business Result

Traphaco Joint Stock Company explained the fluctuation in the consolidated financial report of Quarter 4/2009 as follows:

Profit after tax in Quarter 4/2009 decreased by VND5.39 billion (Or 35.75 percent) from Quarter 3/2009 because of the following reasons:

* Selling expense in Quarter 4 was VND7.81 billion (Or 32.8 percent) higher than in Quarter 3 because revenue in Quarter 4 increased by 9.3 percent and the Company launched many marketing, advertising and promotion programs in Quarter 4.

* Administrative expense increased by VND6.28 billion (Or 78.2 percent) from Quarter 3 because the Company adjusted the salary expense of the administrative group to meet the Company’s regulations and set up provision for bad receivables at December 31st 2009.

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