PAC: Explanation for business result in Q4/2012

Dry Cell and Storage Battery Joint Stock Company explained the fluctuation in profit after tax in Quarter 4/2012 compared to Quarter 4/2011:

By: VND

No.	Item	Quarter 4/2012	Quarter 4/2011	Difference
1	2	3	4	5=3-4	6=5/4*100
1	Revenue	509,676,082,129	478,331,790,230	31,344,291,899	6.55%
2	Cost of goods sold	400,560,887,230	376,518,066,118	24,042,821,112	6.39%
3	Selling expenses	73,858,275,270	53,396,434,030	20,461,841,240	38.32%
	Current corporate income tax expenses	7,262,628,247	3,749,919,866	3,512,708,381	93.67%
4	Consolidated profit after tax	19,761,863,672	22,436,110,420	-2,674,246,748	-11.92%

1. In quarter 1/2011 the buying power of the market increased but in quarter 1/2012 buying power of the market decreased so the company implemented promotional programs. Therefore selling expenses in Quarter 4/2012 increased 20 billion dongs compared to Quarter 4/2011.
2. From 2012, the company is not refund 50% income tax so profit before tax decreased 1.3 billion dongs but income tax increased 3.5 billion dongs.
3. Therefore, consolidated profit after tax in Quarter 4/2012 decreased 11.92% compared to Quarter 4/2011.

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