HVG: Explanation for business result in Q1.2015 (Consolidated F.S)

Hung Vuong Corporation explained the fluctuation in business results in Quarter 1/2015 compared to Quarter 1/2014 as follows:

-         In Quarter 1/2015, because of long vacation time of NewYear and Tet, Hung Vuong Corporation’s sales decreased while the Corporation still had to pay salary, interest, etc., so expenses increased. Therefore, the Corporation’s gross profit decreased 45%, or VND170,991,783,224.

-         Besides, the financial income decreased 49%, financial expense rose 10%, selling expense saved 38%, administrative expense decreased 9%, other profit fell 69%, profit from associated companies increased 384% helping HVG’s profit to increase VND72,098,088,871.

-         The impact of the above factors made the profit after tax of shareholders of the parent company in Quarter 1/2015 decreased 65%, equivalent to VND70,211,322,157, compared to Quarter 1/2014.

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