TTF: Explanation for business results in Q4.2012 (Consolidated FS)

Truong Thanh Furniture Corporation explained the difference in consolidated revenue and profit between Quarter 4/2012 and Quarter 4/2011 as follows:

By: VND million

	Quarter 4/2012 (15 companies)	Quarter 4/2011 (13 companies)	Quarter 4/2012 vs. Quarter 4/2011
Net revenue	425.111	1.062.009	-60%
Gross profit	74.658	68.937	8%
Profit after tax	-4.424	25.738	-117%

-         Compared to the same period of 2011, the Corporation’s revenue in Quarter 4/2012 decreased about 60% because the current capital decreased strongly. Besides, subsidiaries in forest industry have not gained revenue from their products.

-         Compared to the same period of 2011, the Corporation’s gross profit increased 8% because profit from subsidiaries were low.

-         Compared to the same period of 2011, the Corporation’s profit after tax in Quarter 4/2012 decreased 117% mainly because the Corporation saved financial expense when banks reduced lending rates.

HOSE

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