HJS: Business operational explanation

According to the Financial Statement Quarter III/2011, profit after tax of Quarter III/201 was VND1,231,332,429 with a decrease of 81% year on year (Profit after tax of QIII.2010 was VND6,520,494,570)). Nam Mu Hydropower JSC (HNX: HJS) explained the decrease in operating result in Quarter III/2011 as follows:

- According to the resigned eletricity porviding contract, the average price of electricity in QIII.2011 was lower than that of QIII.2010. Meanwhile, electricity sale also decreased from 52,171,932 kw in QIII.2010 to 48,308,525 kw in QIII.2011. Thus, revenue from electricity sale decreased from VND28,827,391,894 to VND24,157,091,781 respectively

- Because of high inflation, input costs increased which made cost of goods sold increased from VND5,295,915,941 in QIII.2010 to VND8,431,144,833 in QIII.2011.

HNX

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