Net loss of Taganrog Commercial Seaport (to RAS) for the first quarter of 2011 decreased by 4.2% compared to January-March of 2010, to 8 million 560 thousand rubles, the stevedore company’s statement said. Revenue for the period rose 10.8% to 48 million 605 thousand rubles.
The company said it managed to reduce the loss thanks to a 18-percent increase in cargo handling, which led to revenue growth by 4 million 745 thousand rubles.
Taganrog Commercial Seaport, part of Universal Cargo Logistics Holding, is the major stevedoring company operating at the port of Taganrog. The company operates at Berths Number 1-5, 7 and 8. In 2010, Taganrog Seaport handled more than 1.3 million tons of different cargoes, including over 788,000 tons of exported coal.
TCSP’s net income for 2010 totaled RUB 6,595,000, revenue – RUB 252,271,000.