HNM: Explanation for change of over 10% in operating result in QIV.2011

According to Financial Statement QIV.2011, gross sales of merchandise and services only gained VND 75 billion decreasing 14.2 % year on year, however the Company still made profit of VND 3 billion. Hanoimilk JSC explained change of over 10% in QIV.2011 as follows:

- Reason for increase in profit is that the Company implemented some methods to save production expenses, general and administrative expenses and adjust sale system in 2011. 

- Revenue decreased by over 14% year on year due to general difficult situation of enterprises. Consumers tightened their spending, which made decrease consumption of Hanoimilk’s products in particular and milk industry in general.

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