Consolidated net profit of Novorossiysk Commercial Sea Port (NCSP) for 2009 under IFRS rose by 63.27% year-over-year, to $252.165 million. The Company’s revenue for the same period grew by 3.26%, to $675.06 million, NCSP statement said.
Commenting on the NCSP’s 2009 financial results, Chairman of the Board of Directors of NCSP Alexander Ponomarenko said: "The strategy, implemented since 2006 has enabled our Group in the recent crisis year the company financial stability and strengthen its position in the market of stevedoring and port services. In 2008, the NCSP Group completed the first phase of its investment programs and projects implemented by the Group’s companies. The projects have provided a more balanced traffic structure that ensured continued growth of the Group's business in the difficult market conditions.”
"The new project launched last year, is a terminal for transshipment of heavy fuel oil of annual capacity of 4 million tons. The project is implemented with our partner’s guarantee providing oil products volumes for the terminal.”
"During 2009 we continued to work on one of our priority projects, a new container terminal at the port of Novorossiysk of capacity of 1.2 million TEUs. This project will enable the NCSP Group to significantly boost its presence in the container traffics segment and to use current trend in foreign trade for the further growth of operating and financial results," Mr. Ponomarenko was quoted as saying.
Novorossiysk Commercial Sea Port is the largest Russian port operator. In 2009 the NCSP Group’s throughput amounted to 86.5 million tons. Consolidated revenues of the Group on International Financial Reporting Standards for the 9 months of 2009 totaled $508.238m.
NCSP Group incorporates the following stevedores: Novorossiysk Commercial Sea Port OJSC, Novorossiysk Grain Terminal OJSC, Novorossiysk Shipyard OJSC, NCSP Fleet OJSC, NovorosLesExport OJSC, IPP OJSC and Baltic Stevedoring Company.
Commenting on the NCSP’s 2009 financial results, Chairman of the Board of Directors of NCSP Alexander Ponomarenko said: "The strategy, implemented since 2006 has enabled our Group in the recent crisis year the company financial stability and strengthen its position in the market of stevedoring and port services. In 2008, the NCSP Group completed the first phase of its investment programs and projects implemented by the Group’s companies. The projects have provided a more balanced traffic structure that ensured continued growth of the Group's business in the difficult market conditions.”
"The new project launched last year, is a terminal for transshipment of heavy fuel oil of annual capacity of 4 million tons. The project is implemented with our partner’s guarantee providing oil products volumes for the terminal.”
"During 2009 we continued to work on one of our priority projects, a new container terminal at the port of Novorossiysk of capacity of 1.2 million TEUs. This project will enable the NCSP Group to significantly boost its presence in the container traffics segment and to use current trend in foreign trade for the further growth of operating and financial results," Mr. Ponomarenko was quoted as saying.
Novorossiysk Commercial Sea Port is the largest Russian port operator. In 2009 the NCSP Group’s throughput amounted to 86.5 million tons. Consolidated revenues of the Group on International Financial Reporting Standards for the 9 months of 2009 totaled $508.238m.
NCSP Group incorporates the following stevedores: Novorossiysk Commercial Sea Port OJSC, Novorossiysk Grain Terminal OJSC, Novorossiysk Shipyard OJSC, NCSP Fleet OJSC, NovorosLesExport OJSC, IPP OJSC and Baltic Stevedoring Company.
