THV: Explanation for the change of over 10% in operating result in QIV.2011 compared to QIV.2010

According to the Financial Statement Quarter IV/2011, profit after tax of Quarter IV/2011 decreased more than 10% year on year. Thai Hoa Viet Nam Group Joint Stock Company explained the decrease in operating result in Quarter IV/2011 as follows:

- The price of materials went up due to high interest rate and high inflation. The stock market has decreased for long time.

- The quality of inventory is bad, so expenses for reprocessing inventory made total expenses increased.

- The company has used short-term capital for long-term investing activities. These long-term investing activities have not given profit yet.

There are the reasons of the decrease in operating result in Quarter IV/2011 of Thai Hoa Viet Nam Group Joint Stock Company.

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