ITA: Explanation for reviewed business result in the first half of 2012

Tan Tao Investment Industry Corporation (ITACO) explained the difference consolidated business result between the first half of 2012 and the first of 2011:

-         The parent company’s profit after tax was 1,944 billion dongs, decreasing 96% compared to the same period of last year. The consolidated profit after tax was 5,358 billion dongs, decreasing 90.34% compared to the same period of last year. Main business of the parent company and subsidiaries are leading, selling finished land in industrial park. In the first half of 2012, the property market has frozen and credit has tightened leading to companies in industrial park has not executed to expand main product made ITA’s revenue and profit to decrease.

-         The difference of data in financial statements before and after review, mainly because the auditor recorded interest expenses for the parent company and subsidiaries.

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