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DDM: Explanation for business result in quarter 3.2012 (holding company) Dong Do Marine Joint Stock Company (Dong Do Marine) has explained reasons of profit after tax in quarter 3/2012 was -27,080,729,843 dongs, decreasing 27,847,194,186 dongs compared to Quarter 3/2011, mainly because:
-
The
difficult of sea transportation. Revenue sales and services in quarter 3/2012
was 63,508,767,790 dongs, decreasing 22.9% (14,523,463,579 dongs) compared to
quarter 3/2011. However, Fuel and oil expense increase highly leading cost of
goods sold in quarter 3/2012 rose. -
During
the period, Dong Thanh Ship related to the claim of the time charterer in the
previous. The company had to pay court expense with amount about 6 billion
dongs. Besides, Dong Thanh Ship had to stop mining within 01 month. So, the
ship had no revenue in this period. -
In
Quarter 3.2012, the company allocated losses from exchange rate difference for
long-term loan in foreign currencies with amount about 4.5 billion dongs. -
However,
Cost of goods sold in Quarter 3.2012 increased 38% or 18,273,282,365 dongs from
the same period of last year. Gross profit decreased 32,796,745,944 dongs from
Quarter 3.2011.
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