The first-quarter financial (RAS) report of Kuban River Shipping (KubRP OJSC, the Azov-Don Shipping Company’s arm) show, the Company ended Q1, 2010 with net income at 4.5 million rubles, up 13.2% over Q1,09, the Shipping Company’s statement said.
According to Q1,09 financial results Kuban Shipping had net income at 19,233,000 rubles. This year’s quarterly cutback, 4.3 times as much, from the previous reporting period, was primarily due, the statement said, to seasonal slump in river fleet operations and increased costs of the fleet upgrade program this year.
Kuban River Shipping OJS Company is the major freight carrier by river vessels and river-sea going ships in the Krasnodar Territory. The joint stock company is engaged in sand recovery and sales, construction business. The Company ended up last year with 94,849,000 rubles net income vs RUB94,047 million a year earlier (+0.8%).
According to Q1,09 financial results Kuban Shipping had net income at 19,233,000 rubles. This year’s quarterly cutback, 4.3 times as much, from the previous reporting period, was primarily due, the statement said, to seasonal slump in river fleet operations and increased costs of the fleet upgrade program this year.
Kuban River Shipping OJS Company is the major freight carrier by river vessels and river-sea going ships in the Krasnodar Territory. The joint stock company is engaged in sand recovery and sales, construction business. The Company ended up last year with 94,849,000 rubles net income vs RUB94,047 million a year earlier (+0.8%).