VCSC: Explanation for business result in Quarter 4.2012

VIET CAPITAL SECURITIES JOINT STOCK COMPANY explained profit after tax in Quarter 4.2012 increased beside Quarter 4.2011:

                                                                                                                        By: VND

Item	Quarter 4.2012	Quarter 4.2011	Difference
			Value	Ratio %
Revenue	73,780,919,664	175,324,729,219	-101,543,809,555	-58%
Expenses	66,972,084,803	158,657,986,462	-91,685,901,659	-58%
Profit before tax	6,808,834,861	16,666,742,757	-9,857,907,896	-59%
Profit after tax	3,081,109,334	13,424,467,957	-10,343,358,623	-77%

Revenue in Quarter 4/2012 decreased 58% and expenses decreased 58% because common difficulties in the stock market have affected the Company’s activities, especially its securities investment advisory. Therefore, profit in Quarter 4/2012 decreased 59% compared to in Quarter 4/2011.

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