TDH: Explanation for the business result in Quarter 1/2014

Thu Duc Housing Development Corporation (THUDUC HOUSE) explained the business result in Quarter 1/2014 as follows:

–     Business result of parent company:

Unit: million dongs

Item	Quarter 1/2014	Quarter 1/2013	Different	Rate (%)
Net revenue from selling and service supply	45,117	48,739	-3,622	-7.4
Gross profit	17,318	12,218	5,100	41.7
Profit after tax	9,029	2,328	6,701	287.8

–     Net revenue in Quarter 3/2013 was VND55.4billion increasing 3 times compared to the same period of 2012. Profit before tax and profit after tax was VND13.6 billion compared to Quarter 3/2013.

–     Reasons:

·         Net revenue from sales and services in Quarter 1/2014 was VND45.1 billion decreasing VND3.6 billion compared to the same period of 2013, leading to gross profit was VND17.3 billion, increasing 41.7% compared to Quarter 1/2013.

·         Profit after tax in quarter 1/2014 was VND9 billion increasing 287.8% compared to quarter 1/2013.

·         Cost of goods sold decreased, ration cost of goods sold/net revenue in Quarter 1/2014 decreased from 74.9% to 61.6%, leading to gross profit increased VND5.1 billion.

·         Financial income in Quarter 1/2014 increased VND2.4 billion.

·         Financial expense in Quarter 1/2014 was –VNd131.2 million, decreasing  compared to in Quarter /2013 because the company delayed a provision.

·         Consolidated business result:

Unit: million dongs

Item	Quarter 1/2014	Quarter 1/2013	Different	Rate (%)
Net revenue from selling and service supply	78,673	84,497	-5,824	-6.9
Gross profit	21,794	18,431	3,359	18.2
Profit after tax	8,421	185	8,236	4,442.5
Profit after tax of parent company’s shareholder	9,322	775	8,546	1,102.6

–     Revenue from selling and service supply in Quarter 1/2014 was VND78.7 billion, decreasing 6.9%, Gross profit was VND21.8 billion, increasing 18.2%. Besides, profit after tax and profit after tax of parent company’s shareholder increased VND8.2 billion and VNd8.5 billion.

–     Reason: Cost of goods sold decreased, financial income increased and financial expense decreased,

HOSE

>   KSA: Information on amending the 2014 Annual Reports (15/05/2014)

>   OPC: Explanation for business result in Quarter 1/2014 (15/05/2014)

>   PAC: Explanation for consolidated business result in Q1/2014 (15/05/2014)

>   SAM: Explanation for business result in Quarter 1/2014 (15/05/2014)

>   TYA: Explanation for consolidated business result in 2013 (before and after auditing) (15/05/2014)

>   THS: Notice of record date for AGM 2014 (14/05/2014)

>   CX8: Announcement on organization of AGM of shareholders 2014 (14/05/2014)

>   BLF: Financial Statement Quarter 1/2014 (14/05/2014)

>   QCC: Notice of record date for General Meeting of Shareholders 2014 (14/05/2014)

>   PFL: Financial Statement Quarter 1/2014 (14/05/2014)