GIL: Explanation for business result in Q2/2010

Binh Thanh Import Export Production and Trade Joint Stock Company has explained business result in Q2/2010 as follows:

- After-tax profit in Q2/2010 was VND7,092,627,013, decreasing 51.67% compared to Q2/2009 (VND14,676,212,367).

Reasons:

- The consumption market of the company products is the seasonal market and the low season usually occurs in Q2 annually. Thus, sales in Q2/2010 decreased (there was extraordinary change in Q2/2009).

- Profit in Q2/2009 was high because difference of exchange rate of USD/VND brought earnings to the company. In addition, there was policy of preferential interest rate of the government in 2009.

- However, in Q2/2010, the company proactively took the advantage of an export enterprise to increase of earnings from exchange rate. Therefore, financial income in Q2/2010 rose VND2.7 billion compared to the same period 2009.

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