Unaudited net profit of Novorossiysk Commercial Sea Port (NCSP Group) almost doubled (to $208.084 mln) under international accounting standards (IAS) within 9-month period of 2009 as compared to the corresponding period figure of 2008, press-service of the group reported. NCSP’s income amounted to $508.238 mln (4.2% year-on-year). Corrected EBITDA amounted to $354.0 mln in QI-III, 2009 against $266.3 mln within the reporting period of 2008.
‘We continue to demonstrate consistent growth in operating and financial indicators capitalizing on such competitive strengths of our business as highly diversified cargo base, deep water harbor, and well developed stevedoring and inland infrastructure. Still today our container capacity is substantially underutilized as a result of the overall reduction of Russian imports. Growing demand for imported goods in both the consumer and the industrial segments of the Russian economy will support the recovery of container shipping, which in turn will increase NCSP’s container capacity utilization rates driving further growth in operating and financial indicators of the Group in the short term,’ Alexander Ponomarenko, NCSP Chairman, said commenting on the financial results for the nine months of 2009.
Novorossiysk Commercial Sea Port (NCSP Group) is Russia’s largest port operator. Main Group’s assets are concentrated in Novorossiysk port which is the largest Russia’s port and sixth largest port in Europe. NCSP OJSC shares are quoted at RTS exchange and Moscow Central Stock exchange (as NMTP), as well as London Stock Exchange (as NCSP). In 2008, the Group’s throughput totaled 81.6 million tons. Its consolidated income for 9 months of 2008 under international accounting standards amounted to $653.777 mln.
The Group comprises the following stevedoring companies: Novorossiysk Commercial Sea Port OJSC, Novorossiysk Grain Terminal OJSC, Novorossiysk Ship Repair Yard OJSC, NCSP Fleet OJSC, Novolesexport OJSC, IPP OJSC and Baltic Stevedore Company LLC.
‘We continue to demonstrate consistent growth in operating and financial indicators capitalizing on such competitive strengths of our business as highly diversified cargo base, deep water harbor, and well developed stevedoring and inland infrastructure. Still today our container capacity is substantially underutilized as a result of the overall reduction of Russian imports. Growing demand for imported goods in both the consumer and the industrial segments of the Russian economy will support the recovery of container shipping, which in turn will increase NCSP’s container capacity utilization rates driving further growth in operating and financial indicators of the Group in the short term,’ Alexander Ponomarenko, NCSP Chairman, said commenting on the financial results for the nine months of 2009.
Novorossiysk Commercial Sea Port (NCSP Group) is Russia’s largest port operator. Main Group’s assets are concentrated in Novorossiysk port which is the largest Russia’s port and sixth largest port in Europe. NCSP OJSC shares are quoted at RTS exchange and Moscow Central Stock exchange (as NMTP), as well as London Stock Exchange (as NCSP). In 2008, the Group’s throughput totaled 81.6 million tons. Its consolidated income for 9 months of 2008 under international accounting standards amounted to $653.777 mln.
The Group comprises the following stevedoring companies: Novorossiysk Commercial Sea Port OJSC, Novorossiysk Grain Terminal OJSC, Novorossiysk Ship Repair Yard OJSC, NCSP Fleet OJSC, Novolesexport OJSC, IPP OJSC and Baltic Stevedore Company LLC.