EFI: Explanation for the difference in profit of Quarter 3/2013 year on year (holding company)

On 22/11/2013, Education Financial Investment Joint Stock Company announced explanation for decrease of profit after tax in Quarter 3/2013 year on year of holding company as follows:

In Quarter 3/2013, revenue from tower management reached VND 1,750,395,327, increasing compared to Quarter 3/2012 (VND 1,319,363,822) because 81 Tran Hung Dao tower was fully leased so revenue from tower management increased; otherwise, the Company saved and cut expenses so cost of services decreased and gross profit reached VND 894,841,781, increasing VND 494,096,729 (123%) compared to Quarter 3/2012 (in Quarter 2/2012, gross profit was only VND 400,745,052).

Although revenue from financial activities in Quarter 3/2013 of holding company was only VND 641,768,691, much lower than Quarter 3/2012 (VND 2,095,972,062) due to unfavorable happenings of stock market in 2013, that banking interest rate decreased strongly also influenced on revenue from financial activities of the Company. Therefore, profit after tax of Holding company only reached VND 1,124,901,546 and decreased 14.18% in comparison with Quarter 3/2012.

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