DDM: Explanation for business result in quarter /2009

Dong Do Marine Joint Stock Company (Dong Do Marine) has explained reasons of business profit at VND15,555,811,910 made the 2009 accumulation profit increase to VND1,311,389,528 as follows:

* Liquidating successfully Dong Ho Ship and gained VND33 billion.

* Expenses in the quarter 4/2009 were VND24,735,750,522 and increased higher than the quarter 3/2009  because there were differences of exchange rate of long-term loans at the end of year. Total loss of the differences of exchange rate was VND9,475,864,972. However, the main income of Dong Do Marine is ship rental in USD. Therefore, the differences of exchange rate don’t affect capital for paying interests and principles as well as financial expenses of Dong Do Marine.

* Revenue of ship team of dry cargos increased higher than that in quarter 3/2009 because Dong Do Marine invested in and deployed Dong Thanh Ship. But profit from the team did not increase because rentals of Dong Du Container and Dong Mai Ship also were low. Beside, Dong Do Marine repaired Dong Mai Ship in the end of December so revenue decreased and expenses increased.

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