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VOS: Explanation for business result in QII-2011
Viet Nam Ocean Shipping JSC (HOSE: VOS) explained the fluctuation in business result in Quarter II-2011 compared to Quarter II-2010 as follows:
Unit: Million dongs
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Content |
Quarter II-2011 |
Quarter II-2010 |
Comparison Q.II 2011 & QII.2010 |
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Total revenue |
778,588 |
696,607 |
112% |
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Gross profit |
96,710 |
105,100 |
92% |
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Net revenue |
(20,823) |
38,297 |
|
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Other profits |
21,846 |
14,240 |
153% |
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Profit before tax |
1,023 |
52,537 |
1.95% |
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Profit after tax |
848 |
40,537 |
2.09 |
Profit after tax decreased mainly because of the following reasons:
- Total revenue in Quarter II-2011 was higher than total revenue in Quarter II-2010 because the Company’s ships have run stably but the input expenses increased highly, especially fuel, engine oil, material expenses, etc., and made the ships’ business effect down. Moreover, financial expenses also increased because of fluctuation in exchange rates and the increase in interest rates. This pulled the Company’s profit down sharply compared to the same period of 2010
- However, in Quarter II-2011, the Company sold Vinh Long Ship and gained a profit of VND21.3 billion.
HOSE
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