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TJC: Explanation for the change of over 10% in operating result in 2012 compared to 2011
According to the Financial Statement
2012, profit after tax of 2012
decreased more than 10% year on year. Transportation and Trading Services JSC explained
the decrease in operating result in 2012
as follows:
In 2012, the transportation activity of the company
still encountered many difficulties due to the world wide recession, the
transportation demand decreased while the transportation fee still at a low
price. On the other hand, 3 among 4 ships of the company were under maintenance
which decreased the business time and revenue of ships. Transco Star ship after
being stranded in Phillipines was under maintenance for more than 05 months,
therefore the operation time of this ship was only 07 months. Therefore in gross profit of 2012, the
operation revenue was 186 billion only, which was 94.46% (decreased by more
than 10 billion) compared with 2011. However the cost of goods sold was 184
billion, increased by 7.5% ( which was around 13 billion) compared with recent
years because the input expenses kept on increasing such as the harbor expense
increased 5%, fuel increased 6%-8%, maintenance increased 25%, insurance
increased 8%,… Therefore the combined profit of sales and services in 2012 was
2.4 billion which was 9.3% ( decreased by 23 billion) compared with last year.
The financial expenses of this year decreased 15.7
billion, which was 26.6% year on year because the company paid one part of the
debt for the Bank and the money exchange rate (USD) with VND was stable in
whole year so there was no raised disparity in exchange rate ( while in 2011
was 13.9 billion).
Because of the reasons above, in 2012, the operation
result of the company was lost VND 9,407,065,023 which was decreased by VND
9,807,311,120 compared with the profit before tax of 2011.
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