BTP: Explanation for business result in Quarter 2/2014

Ba Ria Thermal Power Joint Stock Company (BTP) explained the reasons causing the decrease in profit of Quarter 2/2014 compared to profit of Quarter 2/2013 as follows:

-         The Company is negotiating with the Vietnam Electricity (EVN). Therefore, the electricity price for 2014 is temporarily equal to the price for 2013, and pricing parameters are calculated like 2013. After having an official electricity price for 2014, BTP will adjust its revenue for 2014.

-         According to Circular 179/2012/TT-BTC dated 10/24/2012, BTP assessed the exchange rate difference of loans in foreign currency at the end of quarter. So, the unrealized foreign exchange loss in Quarter 2/2014 was VND38.8 billion.

Therefore, BTP’s profit in Quarter 2/2014 decreased compared to the same period of last year.

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