VOS: Explanation for business result in Quarter 2/2012
Viet Nam Ocean Shipping Joint Stock Company (VOSCO) explained the difference in revenue and profit of the parent company in Quarter 2/2012 compared to Quarter 2/2011 as follows:
By: VND
Quarter 2/2012 Quarter 2/2011 Comparison Total revenue 658,405,455,351 828,001,698,871 79.52% Profit after tax (43,206,668,426) 3,741,635,936 - In Quarter 2/2012, BDI Index continued decreased strongly, around 1,000 points. Besides, the decrease in growth of China and Malaysia’s export ban for unprocessed metal ores made the dry freight market continue being bleak. - VOS’s revenue decreased and is just equal to 77.52% of the same period of 2011, while total expenses in Quarter 2/2012 is equal to 85.71% of expenses in Quarter 2/2011. The main reason is that expenses relating to fleet such as fuel, materials increased highly. Especially, the average price of FO in Quarter 2/2012 is 12% higher than the price in Quarter 2/1011. - Besides, VOS’s profit in Quarter 2/1011 is higher because VOS sold Vinh Long ship for VND21.8 billion in June 2011.- However, VOS expects that business situation in Quarter 3/2012 will be improved because the Company are trying to apply financial solutions. Moreover, fuel price in Quarter 3 decreased 10% compared to the average buying price in Quarter 2/2012.
Quarter 2/2012
Quarter 2/2011
Comparison
Total revenue
658,405,455,351
828,001,698,871
79.52%
Profit after tax
(43,206,668,426)
3,741,635,936
- In Quarter 2/2012, BDI Index continued decreased strongly, around 1,000 points. Besides, the decrease in growth of China and Malaysia’s export ban for unprocessed metal ores made the dry freight market continue being bleak.
- VOS’s revenue decreased and is just equal to 77.52% of the same period of 2011, while total expenses in Quarter 2/2012 is equal to 85.71% of expenses in Quarter 2/2011. The main reason is that expenses relating to fleet such as fuel, materials increased highly. Especially, the average price of FO in Quarter 2/2012 is 12% higher than the price in Quarter 2/1011.
- Besides, VOS’s profit in Quarter 2/1011 is higher because VOS sold Vinh Long ship for VND21.8 billion in June 2011.
- However, VOS expects that business situation in Quarter 3/2012 will be improved because the Company are trying to apply financial solutions. Moreover, fuel price in Quarter 3 decreased 10% compared to the average buying price in Quarter 2/2012.
HOSE
> PDN: Explanation for business result in the first 6months of 2012 (17/08/2012)
> LHC: 2012.08.17_Reviewed financial statement 2012 (17/08/2012)
> LUT: 2012.08.17_Reviewed financial statement 2012 (17/08/2012)
> TCL: Explanation for business results in quarter 2/2012 (17/08/2012)
> PGT: Reviewed financial statement 2012 (17/08/2012)
> PHH: Financial Statement Quarter 2_2012 (17/08/2012)
> PPS: Financial Statement Quarter 2_2012 (17/08/2012)
> PRC: Reviewed financial statement 2012 (17/08/2012)
> PSI: Reviewed financial statement 2012 (17/08/2012)
> PVE: Financial Statement Quarter 2_2012 (17/08/2012)
