VISecurities: Explanation for business result in Q4/2012

VietNam International Securities Joint Stock Company (VISecurities) gave reasons causing the loss in Quarter 4/2012:

By: VND

	Quarter 4/2012	Quarter 4/2011	Difference ratio
Revenue	15,695,544,729	46,818,587,697	-66%
Expense	34,983,920,095	56,168,311,158	-38%
Profit/ loss	(19,288,375,366)	(9,349,723,461)	106%

Compared to Quarter 4/2011, VISecurities’ revenue decreased 66% while its expense decreased just 38%, so its loss in Quarter 4/2012 was higher than in Quarter 4/2011.

-         Income from brokerage service went down 46%.

-         Income from investment activities lost 72%.

-         Income from consulting service decreased 36%.

-         Other incomes decreased 67%.

The Company’s revenue in Quarter 4/2012 slipped because the trading volume of stock market was low. Compared to the same period of 2011, VISecurities’ operating expense saved 44%, but administrative expense increased 26% because the Company increased provisions.   

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