HOT: Explanation for business result in Q1.2013

Hoi An Tourist Holding Company explained the fluctuation in business result between Quarter 1. 2013 and Quarter 1.2012 as follows:

1.       Deductions:

-         Quarter 1.2013: 106,184,881 dongs

-         Quarter 1.2012:  167,082,581 dongs

-         Decreasing:  60,897,700 dongs

-         Ratio:  36,45%

-         Reason: In Quarter 1.2013, special consumption tax from spa decreased.

2.       Cost of sold goods:

-         Quarter 1.2013:  31,916,687,548 dongs

-         Quarter 1,2012:  27,977,871,804 dongs

-         Increasing: 3,938,815,744 dongs

-         Ratio: 14.08%

-         Reason: revenue increased 4%, depreciation increased 113.25%, salary increased 19.7%.

3.       Finance income:

-         Quarter 1.2013:  114,555,923 dongs

-         Quarter 1.2012:  575,171,510 dongs

-         Decreasing : 460,615,587 dongs

-         Ratio: 80.08%

-         Reason: loan interest rates in banks decreased strongly from 14%/ year in Quarter 1.2012 to 8%/year in Quarter 1.2013 leading to deposits interest of the company decreased.

4.       Selling expenses:

-         Quarter 1.2013: 1,208,755,860 dongs

-         Quarter 1.2012:  1,075,464,267 dongs

-         Increasing: 133,291,593 dongs

-         Ratio: 12.39%

-         Reason: in 2013, the manager model changed, salesman transferred to Corporation leading to salary increased.

5.       General and administration expenses:

-         Quarter 1.2013: 2,538,706,474 dongs

-         Quarter 1.2012:  1,547,872,807 dongs

-         Increasing: 990,833,667 dongs

-         Ratio:  64.01%

-         Reason: Remuneration of the Board of Directors increased 

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Therefore, profit in Quarter 1.2013 increased VND3,306,745,200 (22.93%) compared to the same period of last year. Ratio profit before tax/net revenue from 32.45% in Quarter 1.2012 to 23.81% in Quarter 1.2013.

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