JSC Vostochny Port announced for the nine months period ended Sept. 30 net income of RUB 262,173,000 under RAS, which is 6.3% below last year’s results, the company’s financial statements said. Revenue for the first 9 months of 2010 amounted to 1,510,555,000 rubles, up 2.2% versus the last year’s nine-month revenue. Growth in revenues in the period was due to several factors: changes in cargo handling rates and extra proceeds from the coal cleaning service, the report said.
There was also a costs growth factor, but gross profit had a positive result. Reduced profitability of sales by 9.9% for 9 months of this year versus 9 months of 2009 is a consequence of the increasing costs of services, the company said
Vostochny Port OJSC is the largest stevedoring company in the Russia’s Far East. The company specializes in transshipment of coal using the conveyor equipment. The Vostochny Port’s assets include a Specialized Coal Complex and a Universal Production and Handling Facility intended for transshipment of general and bulk cargoes (coal, coke, clinker, iron ore, timber, etc.). The stevedore is capable to handle metals, pulp, aluminum, chemical, long-sized and heavy cargoes. Last year the Vostochny Port’s throughput fell 3% to 14.585.800 tons.
There was also a costs growth factor, but gross profit had a positive result. Reduced profitability of sales by 9.9% for 9 months of this year versus 9 months of 2009 is a consequence of the increasing costs of services, the company said
Vostochny Port OJSC is the largest stevedoring company in the Russia’s Far East. The company specializes in transshipment of coal using the conveyor equipment. The Vostochny Port’s assets include a Specialized Coal Complex and a Universal Production and Handling Facility intended for transshipment of general and bulk cargoes (coal, coke, clinker, iron ore, timber, etc.). The stevedore is capable to handle metals, pulp, aluminum, chemical, long-sized and heavy cargoes. Last year the Vostochny Port’s throughput fell 3% to 14.585.800 tons.