VFC: Explanantion for business result in Quarter 3/2008

Vinafco Joint Stock Corporation has given explanation for business result in Q3 against Q2/2008 as follows:

* Economic financial crisis has affected business activities. Due to impact of capital market and high interest rates, commodity quantity in circulation decreased remarkably, therefore revenue in Q3 reached 84% against Q2 and equal to 66% compared to the same period in 2007. In addition, the company has been affected sudden material cost increasing in Q3 and this is main reason that made capital price rising which led to go down gross profit and it gained 53% against Q2.

* In Q3 every year was low season from shipping activities. Moreover, the Vinafco 25 ship’s repair periodically increased cost and its spare parts which have influenced revenue and profit in this quarter.

* The company did not get any receipts in dividend in its joint venture.

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