SRF: Explanation for business result in QII.2011

Seaprodex Refrigeration Industry Corporation (HOSE: SRF) explained the difference in the consolidated financial statements in QII/2011 and QII/2010:

1. The consolidated profit before tax in QII/2011 increased 32% from QII/2010 because of the following main reasons:

- Although revenue in QII/2011 was lower than QII/2010, gross profit in QII/2011 increased thanks to recording back the warranty provision for some projects.

- The Corporation’s administrative expense decreased from the same period of last year because in QII/2011 the Corporation well collected doubtful debts, so it could record back the provision for doubtful debts.

2. The Corporation’s cumulative profit in the consolidated financial statements for QII/2011 decreased compared to profit in the parent company’s separate statements for the half of 2011, because the profit in the parent company’s separate statements included the operating profit of subsidiary Arico in 2010 worth VND12 billion. However, this profit was excluded on the consolidated financial statements.

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>   MHC: Explanation for business result in QII/2011 (23/08/2011)

>   KSA: Explanation for business result in QII/2011 (23/08/2011)

>   HLA: Explanation for business result in Quarter II.2011 (23/08/2011)

>   MAFPF1: NAV from 11 August 2011 to 18 August 2011 (23/08/2011)

>   VFMVF1: NAV from 11 August 2011 to 18 August 2011 (23/08/2011)

>   PRUBF1: NAV from 11 August 2011 to 18 August 2011 (23/08/2011)

>   VFMVF1: NAV from 11 August 2011 to 18 August 2011 (23/08/2011)

>   VFMVF4: NAV from 11 August 2011 to 18 August 2011 (23/08/2011)

>   VFMVFA: NAV from 11 August 2011 to 18 August 2011 (23/08/2011)

>   HSG: Explanation for business result in Q3.2010-2011 (23/08/2011)