PAC: Explanation for the business results in quarter 1/2014

Dry Cell and Storage Battery Joint Stock Company (PINACO) has explained the profit after tax in quarter 1/2014 increased 1,350,024,516 dongs (12.6%) as follows:

Unit: dongs

Items	Quarter 1/2014	Quarter 1/2013	Difference	% Change
Net revenue	414,798,985,353	362,306,201,933	52,492,783,420	14.5
Financial revenue	3,780806,993	2,696,783,679	1,084,023,314	40.2
Profit before tax	12,023,043,027	10,673,018,511	1,350,024,516	12.6

Reasons:

-          A fine distribution system helped its revenue increased 52,492,783,420 dongs (14.5%).

-          The company pushed financial activities and financial revenue increase 1,084,023,314 dongs (40.2%).

-          Adjusting corporate income tax from 25% down to 22% was made the profit after tax in quarter 1/2014 increased 1,350,024,516 dongs (12.6%).

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