PVS: QII/2011 business explanation

PVS: QII/2011 business explanation

PetroVietnam Technical Services Corporation (HNX: PVS) explained difference in profit after tax in the Reviewed financial statement 2011 and QII/2011 as follows:

- Profit after tax in Financial statement QII/2011: VND 210 billion

- Profit after tax in Reviewed financial statement 2011: VND246.6 billion

- Difference: VND36.5 billion

Reasons for the difference:

Financial Statement of QII/2011 was made on 25/07/2011. Reviewed financial statement 2011 was made on 15/08/2011. When the Reviewed financial statement 2011 was made, some revenue, expenses in QIII/2011 were accounted into Reviewed financial statement 2011. Besides, interest expenses were re-accounted according to the Accounting Standard No.23. Accordingly, operating profit before tax increases by VND21.9 billion, other income increases by VND12.3 billion, financial income increases by VND14 billion.

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