Surprise with the stock of a shipping company

Vietnam Maritime Transport Joint Stock Company (Vosco, stock code: VOS) has just announced its financial report for the second quarter of 2024 with revenue of VND 1,872 billion, an increase of 80% over the same period, but due to operating below cost price, the company's gross profit was negative VND 23 billion, while in the same period last year it made a profit of VND 30 billion.

However, thanks to other income (from the sale of the "old" ship Dai Minh, built in 2004 in Japan) increasing to 393 billion VND, nearly 932 times higher than the same period last year, Vosco's after-tax profit reached nearly 284 billion VND, while in the second quarter of 2023, the profit was only 1 billion VND.

This is the highest quarterly profit in the history of this shipping company.

In the first 6 months of the year, Vosco recorded net revenue of VND2,969 billion, up 90% over the same period and after-tax profit of VND358 billion, 4.8 times higher than the second quarter of last year.

VOS stock has attracted attention in the market when it continuously extended its increasing streak. Source: Fireant

As of the end of June 2024, the value of this enterprise's cash and cash equivalents portfolio reached nearly VND 611 billion (an increase of more than VND 350 billion compared to the beginning of the year), of which non-term bank deposits accounted for 99%.

Notably, after Vosco announced positive business results, VOS shares surprised the market when they entered the trading session on July 18 continuously in the red and ended the session "on the floor", down to 18,600 VND/share.

However, compared to the beginning of 2024, this stock has increased by nearly 63% thanks to the impact of a strong increase in points in the period from early May to mid-June 2024.

Source: https://nld.com.vn/bat-ngo-voi-co-phieu-cua-mot-cong-ty-van-tai-bien-196240718003328123.htm