VNH: Explanation for business result in 6 months of 2013 (after auditing)

Viet Nhat Seafood Corporation explained the fluctuation in business result of in the first 6 months of 2013 (after auditing):

-         Profit after tax in the first 6 months of 2013 (after auditing) was –VND7,976,106,014, decreasing VND9,200,438,406 compared to the same period of last year (VND1,224,332,392).

-         Reason:

+         In 2012, profit after tax was –VND12,516,802,355. In the first 6 months of 2013, because of financial difficulties so the company did not enough capital to buy materials. On April 24, 2013, the company handed over 02 seafood processing workshops to Saigon Trading Group, leading revenue in the first 6 months of 2013 was VND16,295,501,573, decreased VND31,687,402,737 compared to same period of last year. Therefore, profit decreased VND4,347,452,602.

+         In Quarter 2, 2013, loss from selling materials inventory was VND4,158,457,571.

+         Input costs increased, leading to profit decreased VND3,097,771,858.

+         Salary expense increased VND255,458,380.

HOSE

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