Net income of JSC Tuapse Sea Commercial Port (to Russian Accounting Standards) for 9 months of 2010 ending Sept. 30 shrank by 20% compared with the same period a year earlier, to 689,673,000 rubles, the Company’s statement said.
Revenue for the period amounted to 1,907,358,000 rubles, 8.4 percent up from Jan-Sept, 2009.
The company said that the nine-month revenue growth was fueled by boosted freight turnover coupled with the launch of a handling facility for perishable goods and other proceeds generated by dredging services at the harbor.
Among the factors that caused the nine-month negative results, was depreciation of USD against RUB, below 8% y-o-y, the Company’s report said.
JSC Tuapse Sea Commercial Port (TMTP) is the main stevedore operating at one of the largest ports in Russia - the seaport of Tuapse. UCL Holding and Russian government are the main stockholders of JSC TMTP. Universal Cargo Logistics Holding BV owns a 65.06-percent stake, Russ. Govt, holds 25% of shares through the Federal Agency for Federal Property Management.
Revenue for the period amounted to 1,907,358,000 rubles, 8.4 percent up from Jan-Sept, 2009.
The company said that the nine-month revenue growth was fueled by boosted freight turnover coupled with the launch of a handling facility for perishable goods and other proceeds generated by dredging services at the harbor.
Among the factors that caused the nine-month negative results, was depreciation of USD against RUB, below 8% y-o-y, the Company’s report said.
JSC Tuapse Sea Commercial Port (TMTP) is the main stevedore operating at one of the largest ports in Russia - the seaport of Tuapse. UCL Holding and Russian government are the main stockholders of JSC TMTP. Universal Cargo Logistics Holding BV owns a 65.06-percent stake, Russ. Govt, holds 25% of shares through the Federal Agency for Federal Property Management.