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DDM: Explanation for business result in Q2
Dong Do Marine Joint Stock Company (Dong Do Marine) has explained business result in Q2/08 as follows:
1. Profit before tax in Q2/08 reached VND47,763,156,150 (increasing 2066.72% compared to Q1/08), in which:
- Net profit was 4,435,040,774 dongs, increasing 103.47% due to increase of fee of time-charter of Dong Ho and Dong Ba ships.
- Other profit was 43,328,115,376 dongs, increasing 175,197.27% due to selling Dong Son ship with capacity of 10,024 DWT at end of Q2/08. Also, in Q2/08, the company purchased two 10-year-old “sister ships” worth nearly 30 million dollars in order to replace two sold ships in 2007 and 2008.
2. Long term financial investment:
- Total amount of 4,976,286,266 dongs of long term financial investment was contributed to set up to following companies:
+ Dong Do marine development joint stock company: 4,500,000,000 dongs
+ Dong Do Marine Japan company: 176,286,266 dongs
+ Hai Dang transport and construction joint stock company: 300,000,000 dongs
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