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VOS: Explanation for business result in QIII/2011

Nov 17th at 18:01
17-11-2011 18:01:14+07:00

VOS: Explanation for business result in QIII/2011

Viet Nam Ocean Shipping JSC (HOSE: VOS) explained the fluctuation in business result between QIII/2011 and QIII/2010:

By: Million dongs

No.

Item

QIII/2011

QIII/2010

Difference

2011/2010 (%)

1

Revenue

 720,647

 679,198

106.10%

2

Gross profit

 42,811

 108,887

39.32%

3

Net profit

 (54,724)

 (47,110)

116.16%

4

Other profit

 1,207

 97,845

1.23%

5

Profit before tax

 (53,517)

 50,736

-105.48%

6

Profit after tax

 (52,842)

 43,236

-122.22%

The Company’s profit after tax in QIII/2011 decreased mainly because input cost rose highly, especially fuel expense, engine oil, materials, etc., so the operating effect of vessels went down. Besides, the Company had to pay interest expense to local credit institutions and pay for exchange rate differences. Therefore, although total revenue in QIII/2011 increased 6.1% from QIII/2010, gained VND721 billion, profit still decreased. Moreover, the Company in QIII/2010 earned VND97 billion from other profit thanks to selling 02 old vessels (Dai Long and Dai Hung vessels).

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