HMC: Explanation for business result in Q1.2012

Ho Chi Minh City Metal Corporation explained the fluctuation in business result between Quarter 1/2012 and Quarter 1/2011:

• Profit before tax in Quarter 1/2012: VND63,723,774,332
• Profit before tax in Quarter 1/2012: VND9,025,558,178
• Decreased 85.8% compared to Quarter 1.2011

In Quarter 1.2011, the company transferred 1,250,000 shares of Lavenue Investment JSC and earned VND50 billion. Thus, if excluding this extraordinary profit, profit before tax in Quarter 1.2012 only decreased 34% compared to Quarter 1.2011. Because the need of steel was lower than in Quarter 1.2011.

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