OCH: Explanation for difference in profit after tax in Quarter I.2013

OCH: Explanation for difference in profit after tax in Quarter I.2013

(14/05/2013) Ocean Hospitality & Service JSC explained over 5% difference in profit after tax in consolidated Financial Statement Quarter I.2013 compared to Quarter I.2012 as follows:

-       Profit after tax in Quarter I.2012: VND5,033,375,704

-       Profit after tax in Quarter I.2013: VND16,088,992,601

-       Difference: increase by VND11,055,616,897 compared to same period of last year

-       Reasons for profit in Quarter I.2013:

1.     The company fostered sales and signing contracts of ownership transferring of Nha Trang Condotel with customers and recording this revenue

2.     The company fostered hotel management service

3.     The Government adjusted to decrease lending interest rate, leading to increase of financial income

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