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PGT: Explanation for difference in profit QII.2013
(07/25/2013) Saigon Petrolimex Gas Taxi JSC explained the difference in
profit QII.2013 year on year as follows:
Differences:
Profit after tax QII.2012: VND 1,622,971,099
Profit after tax QII.2013: VND -3,844,381,242
Reasons:
The backlog of bad debts is from 2011, which the Company
implemented many measures to collect the most actively, however, the bad debt
recovery was not significant. Such, the Company had to deduct a provision for
the bad debts equal to VND 4,548,576,578 while the operating result QII.2013
was VND 704,195,336, which led to the profit after tax QII.2013 of VND -3,844,381,242
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