HLG: Explanation for business result in Q1.2013

Hoang Long Group explained the difference in profit after tax between Quarter 1/2013 and Quarter 1/2012 as follows:

-          Profit after tax in Quarter 1/2012: VND 9,833,537,470

-          Profit after tax in Quarter 1/2013: -VND 44,711,175,942

Therefore, profit after tax in Quarter 1/2013 decreased by VND 54,544,713,410 compared to Quarter 1/2012. The difference is caused by the difficulties in clearance compensation for An Thanh Villa Project. Hoang Long Group has not yet implemented the construction of infrastructure as well as granted land use licenses to its clients. Therefore, Hoang Long Group and its clients negotiated and agreed to liquidate the land use right transfer agreements in this project. This affected the Group’s profit. 

HOSE

>   PNC: Explanation for business result in Q1.2013 (16/05/2013)

>   VHG: Explanation for business result in quarter 1/2013 (16/05/2013)

>   PXM: Explanation for consolidated business results in quarter 1/2013 (16/05/2013)

>   SBT: Explanation for business result in Q1.2013 (16/05/2013)

>   DCL: Explanation for consolidated business result in QI/2013 (16/05/2013)

>   HU3: Explanation for business results in quarter 1/2013 of parent company (16/05/2013)

>   HU3: Explanation for consolidated business results in quarter 1/2013 (16/05/2013)

>   VIC: Change in Business Registration Certificate (45th time) (16/05/2013)

>   BVH: Change in Business Registration Certificate (5th time) (16/05/2013)

>   MEC: Financial Statement Quarter 1/2013 (holding company) (16/05/2013)