VST: Explanation for consolidated business results in quarter 3/2010

Vietnam Sea Transport and Chartering Joint Stock Company (HoSE: VST) has explained profit after tax at 11.71 billion dongs in quarter 3/2010 increased 39.24 billion dongs beside quarter 3/2009 as follows:

* Revenue in quarter 3/2010 increased 155.17 billion dongs (43.3%) beside quarter 3/2009 because shipping market has recovered from the beginning of 2010 with freight charges increased 30-60% beside 2009. Beside, the company put 02 VTC Tiger Ship and VTC Glory Ship into operation and got 44.24 billion dongs of revenue from them.

* The company has continued controlling expenses. Total expenses in 09 months 2010 increased 119.86 billion dongs (42.3%) beside quarter 3/2009 because the company deducted in advance 23.5 billion dongs of loss expense from exchange rate difference for the ending of 2010 in quarter 3/2010 instead of quarter 4/2010 as the expenses recorded in quarter 4/2009.

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