VNF: QII/2011 Operation explanation

Vinafreight International Freight Forwarders JSC (HNX: VNF) explained the decrease in operating result in QII/ 2011 as follows:

- Profit after tax in QII/2010 is VND 4.8 billions and profit after tax in QII/2011 is VND 2.8 billions

In fact, operation of the Company in QII/2011 is good. Gross profit from sale of services gained VND 5.7 billions compared to VND 3.4 billions of QII/2010. However, profit after tax decreased because:

+ Financial reserve fund increased because stock price decreased (VND 333 millions).

+ Allowance for bad debt increased by VND 1.8 billions year on year.

+ Interest from investment activities was VND 3.4 billions in QII/2010 and VND 1.5 billions in QII/2011

HNX

>   TNA: QII/2011 Operation explaination (Parent company) (11/08/2011)

>   TNA: QII/2011 Operation explaination (Consolidated FS) (11/08/2011)

>   SCD: QII/2011 Operation explaination (11/08/2011)

>   PTC: QII/2011 Operation explaination (12/08/2011)

>   ICF: Explanation for business result in QII/2011 (12/08/2011)

>   SEC: QII/2011 Operation explanation (12/08/2011)

>   EID: Board Resolution (10/08/2011)

>   S99: QII/2011 Operating explaination (10/08/2011)

>   SDH: QII/2011 Operating explaination (10/08/2011)

>   SVS: Explanation for the change of over 10% in profit after tax in First 6 months of 2011 (10/08/2011)