NLG: Explanation for business result in Q1.2013

Nam Long Investment Corporation (NLG Corp) explained the fluctuation in revenue and loss between Quarter 1/2013 and Quarter 1/2012:

By: VND

	Quarter 1/2013	Quarter 1/2012	Change ratio
Revenue	20,310,805,447	29,206,442,665	-30.50%
Net loss after tax	-33,738,863,343	-38,891,054,844	-13.25%

-         NLG Corp’s consolidated net revenue in Quarter 1/2013 was VND20.3 billion, lower than the revenue in the same period of 2012. However, its business results in Quarter 1/2013 were better than Quarter 1/2012 because its products brought a higher gross profit ratio of 34% while the ratio in 2012 was only 28%. Besides, the Corporation decreased 50% of interest expense (VND10 billion) compared to Quarter 1/2012. However, the Corporation had not profit in Quarter 1 due to the specific revenue recognition principle of real estate business under the accounting standards.   

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