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

According to the Financial Statement Quarter IV/2011, profit after tax is VND 0.12 billion with a decrease of VND 11,569 billion compared to Quarter IV/2010. PetroVietnam Premier Recreation JSC explained the decrease in operating result in QIV/ 2011 as follows:

In QIV.2010, the Company used proceeds from the issue to increase charter capital from VND 300 billion to VND 531 billion to invest in finance. In QIV.2011, the proceeds was used for some projects the Company had implemented. Therefore, revenue and profit from financial activities in QIV.2011 decreased significantly year on year.

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