VPK: Explanation for business results in quarter 2/2012

In quarter 2/2012, the profit after tax of Vegetable Oil Packing Joint Stock Company (VPACK) increased 111.8% and profit accumulated in first 06 months 2012 increased 59.6% beside quarter 2/2011.

Reasons: 

-         Revenue in quarter 2/2012 was up 29.5% compared to the same period of 2010. The cumulative revenue in first 6 months 2012 increased by 15.6% against 6 months 2011. Besides, selling price in quarter 1&2/2012 increased but material was used from inventories in 2011 and quarter 1/2012.

-         The company continued controlling expenses, bank interests. Therefore, the expenses decreased 50.4% beside quarter 2/2011 and 54% beside 6 months 2011.

-         In 2011, the Company received a 30 percent deduction of corporate income tax, so the Company’s profit after tax increased.

HOSE

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