HLG: Explanation for Q4.2012 business results

Hoang Long Group explained the difference in profit after tax between Quarter 4/2012 and Quarter 4/2011:

-         Profit after tax in Quarter 4/2011: VND17,042,353,200

-         Profit after tax in Quarter 4/2012: (VND39,040,350,478)

Profit after tax in Quarter 4/2012 decreased by VND56,082,703,678 compared to Quarter 4/2011 because of the increase in prices of materials for fish feed production and then the increase in cost of product. Besides, the export price of maritime products was down while the borrowing expense is still high although it decreased. Hoang Long Group is investing in a mineral water plant, so many expenses arise. And, another reason causing the decrease in profit is that Hoang Long Group made a provision for doubtful debts in late 2012. 

HOSE

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