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14-02-2011 03:55 PM #1
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OGC: Explanation for Q4.2010 business result
Ocean Group Joint Stock Company (HOSE: OGC) explained the reasons making profit in Quarter 4/2010 increase over 10% from Quarter 4/2009:
• Profit after tax in Quarter 4/2009: VND37,166,795,361 (1)
• Profit after tax in Quarter 4/2010: VND185,113,877,511 (2)
• Increase (2) – (1): VND147,947,082,150
Reason:
Compared to Quarter 4/2009, the Company’s operating scale in Quarter 4/2010 has grown strongly thanks to the increase in charter capital from VND390 billion to VND2,500 billion (In late Quarter 4/2009: increasing capital to VND1,968 billion and in Quarter 1/2010: increasing capital to VND2,500 billion) and the restructuring of subsidiaries and joint-ventures.
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