AGR: Explanation for business result in QIII/2011

AgriBank Securities Joint Stock Corporation (HOSE: AGR) has explained the fluctuation in profit after tax in QIII/2011 compared to QIII/2010:

1. AGRISECO’s revenue decreased VND139 billion (34%) because AGRISECO’s other income decreased VND104 billion and income from securities dealing decreased VND32 billion

2. Total expense decreased VND111 billion (33.6%) because in QIII/2011 the expenses of securities broking contracts which mainly affected the fluctuation in expense in the period decreased from the same period of last year

3. Profit before tax went down VND28 billion (35.6%) because the decrease in revenue was bigger than the decrease in expense compared to QIII/2010

4. Profit after tax decreased VND9.7 billion (16%) because the current corporate income tax and deferred corporate income tax in Quarter 1/2011 was VND18.4 billion lower than the same period of last year.

HOSE

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