VFG: Explanation for business result in QIII/2011

VFG: Explanation for business result in QIII/2011

Viet Nam Fumigation JSC (HOSE: VFC) has explained the business result in QIII/2011 compared to QIII/2010:

Reasons:

- Total revenue in QIII/2011 increased 21% and gross profit increased 25%. Net operating profit in QIII/2011 rose 14% compared to the same period of last year

- Expenses

+ Cost of goods sold increased 18% compared to the same period of 2010

+ Financial expense decreased 10% from QIII/2010, in which interest expense decreased 32% while exchange rate difference increased 36%. The Company’s financial expense decreased because the Company balanced cash flows, raised funds effectively, decreased bank loans, and made interest expense sharply lower than the same period in 2010

+ Selling expenses increased 58% against QIII/2010 because there have been difficulties in pharmaceutics for agriculture in 2011 and the company had to expanded promotion activities

+ Administrative expense went up 40% compared to QIII/2010.

HOSE