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VNS: Explanation for business activities in quarter 3/2008
Below is explanation of Vinasun Corporation (VNS) for its business activities result of quarter 3/2008:
* Total revenue in quarter 3 is 237.35 billion dongs, of which 228.7 billion dongs is from operating activities and 8.63 billion dongs is from other income (liquidation of 44 cabs). Profit before tax is 15.14 billion dongs; profit after tax is 10.9 billion dongs. In the quarter, VNS also purchased 528 new Innova cabs supplemented to the company’s fleet.
* Accumulated revenue of first 9 months is 627.69 billion dongs, equivalent to 84.3% of the year’s plan, of which : Revenue from operating activities : 598.8 billion dongs (88% of the year’s plan); Proceeds from liquidation of fixed assets : 28.84 billion dongs (45.1% of the year’s plan- liquidation of 137 cabs out of 300 cabs as target)
* Accumulated profit after tax is 43.85% billion dongs, equivalent to 63.6% of the year’s plan, of which: from operating activities : 25.27% (76.9% of the year’s plan) and from liquidation of fixed assets 18.57 billion dongs (51.6% of the year’s target)
* The company has purchased 1,000 new Innova cabs in the first 9 months. In quarter 3, gas price raised a lot, whereas low demand of transportation by taxi, revenue increased by 17.9% (increase number of cabs) but profit after tax decreased by 33.3% compared to last quarter. However, the company has met the year’s target.
* In quarter 4, the high season for transportation by taxi, lower tendency of gas price and loan interest rate; the company, with a fleet of 2,100 cabs and will continue to liquidate 163 cabs as planned, expects to increase the revenue by 120% on the year’s target and gain planned profit after tax.
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