HMC: Explanation for business result in QIII/2011

Ho Chi Minh City Metal Corporation (HOSE: HMC) explained the fluctuation in business result between QIII/2011 and QIII/2010:

• Profit before tax in QIII/2010: VND10,233,801,850

• Profit before tax in QIII/2011: VND15,153,335,831

• Profit before tax in QIII/2011 increased by 48.07% from QIII/2010 because in QIII/2011 the need of steel increased more highly than in QIII/2010. The Company pushed sales and its revenue rose by 56.36% from QIII/2010. Besides, the Company was effective in financial management and administrative expense, so total operating expenses increased just 15.61%.

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