HPG: Explanation for business result in Q1/2012

Hoa Phat Group Joint Stock Company explained the fluctuation in business result between Quarter 1/2012 and Quarter 1/2011:

-         Profit after tax in Quarter 1/2012 was VND200 billion, equal to 36.16% of VND533 billion in Quarter 1/2011. Because:

+         Total selling of steels in quarter 1/2012 was 161,225 tons decreasing 6.4% against quarter 1/2011, profit in quarter 1/2012 was equal to 25% compared to the same period of last year, mainly because of competition with domestic companies and import steels so price of steels rose hardly. Besides, price of input, electricity, fuel increased. Steels industry decreased sharply affected to coke industry.

+         Other sectors of Hoa Phat Group Joint Stock Company were affected because of economic difficulties.

HOSE

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