AGD: Explanation for business result in quarter 4/2009

Godaco Seafood Joint Stock Company (GODACO_SEAFOOD) has explained the business results in quarter 4/2009 in comparison with quarter 3/2009 as follows:

* Total profit after tax in 2009: VND22,186,112,924

* Profit after tax in quarter 4/2009: VND11,401,926,827

* Profit after tax in quarter 3/2009: VND6,668,244,749

* Change of quarter 3/2009 and quarter 4/2009 is VND4,733,682,078 (Increasing 70.99%)

Reasons:

* Revenue increased in quarter 4/2009 because the adjustment of exchange rate of banks. The exchange rate increased from VND17,886/USD to VND18,490/USD. Therefore, the exchange rate increased VND600/USD and made the company’s income increase VND3 billion.

* The company used material (Catfish) from the company’s farm in quarter 4/2009 and made cost decrease about VND3,000/kg of finish goods and the company’s income increase about VND0.7 billion.

* Demands of foreign customers increased in quarter 4/2009 and made revenue increase VND8.8 billion. Therefore, the gross profit increased VND0.8 billion.

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