VNH: Explanation for consolidated business result in Q4.2012

VIET NHAT SEAFOOD CORPORATION explained the fluctuation in consolidated business result between Quarter 4/2012 and Quarter 4/2011:

	Quarter 4/2012	Quarter 4/2011
Revenue from selling and service supply	16,344,855,298	2,116,565,812
Deductions
Net revenue from selling and service supply	16,344,855,298	2,116,565,812
Cost of goods sold	17,238,214,940	2,512,839,946
Gross profit from selling and service supply	(893,359,642)	(396,274,134)
Financial income	48,144	385,000
Financial expenses	691,231,324	40,244,470
In which: Interest expenses	691,231,324	40,244,470
Selling expenses	17,429,112
General and administration expenses	363,070,033	528,432,906
Net profit	(1,965,041,967)	(964,566,510)
Other income	1,051
Other expenses	2,298,220
Other profit	(2,297,169.00)
Profit before tax	(1,967,339,136.00)	(964,566,510.00)
Business income tax – current	16,344,855,298	2,116,565,812
Business income tax – deferred
Profit after tax	16,344,855,298	2,116,565,812

Profit after tax in Quarter 4/2012 was -1,967,339,136 dongs, decreasing 1,002,772,626 dongs compared to Quarter 4/2011.

Reason:

1. Gross profit in Quarter /2012 was VND-893,359,642, decreasing VND497,085,508compared to in Quarter 3/2011 (VND396,274,134) Reason:
2. Input expenses in Quarter 4/2012 increased more highly than in Quarter 4/2011.
3. Financial income in Quarter 4/2012 was VND48,144, decreasing VND336,856 compared to in Quarter 4/2011 (VND385,000) because of interest from bank deposits decreased.
4. Financial expenses in Quarter 4/2012 was VND691,231,324, increasing VND650,986,854 compared to in Quarter 4/2011 (VND40,244,470).
5. Selling expenses in Quarter 4/2012 was VND17,429,112, increasing VND17,429,112 compared to in Quarter 4/2011 because freight increased.
6. General and administration expenses in Quarter 4/2012 was VND363,070,033, decreasing VND165,362,873 compared to in Quarter 4/2011, because office management expenses went down.
7. Other profit in Quarter 4/2012 was –VND2,297,169, increasing –VND2,297,169 compared to in Quarter 4/2011.
8. Profit before tax in Quarter 4/2012 was –VND1,967,339,136, decreasing VND1,002,772,626 compared to in Quarter 4/2011.
9. Profit after tax in Quarter 4/2012 decreased compared to in Quarter 4/2011
10. VND17,159,413,741 + VND1,002,772,626 = VND18,162,186,367.

HOSE

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