NVN: Explanation for consolidated business result in Q2/2012

House Viet Nam Joint Stock Company explained the fluctuation in consolidated business result between Quarter 2/2012 and Quarter 2/2011:

By: VND

No.	Item	Single-entity financial statements in  Quarter 2/2012	Consolidated financial statements  in Quarter 2/2012
1	Revenue	18,849,678,555	18,979,776,668
2	Profit after tax	1,787,956,980	315,408,170

Reason:

-         In Quarter 2/2011, NVN had not subsidiaries so profit after tax in Single-entity financial statements had the fluctuation compared to in consolidated financial statements.

-         Besides, In Quarter 2/2012, subsidiaries have just operated so investment expenses, advertising expenses, promotion expenses were high. Therefore, business result in Quarter 2/2012 decreased compared to in Quarter 2/2011.

HOSE

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