Net loss of OJSC Severnaya Verf Shipyard according to Russian Accounting Standards (RAS) shrank by 4.8% compared to the same period of last year to RUB 688,457,000. The Company's revenue over the same period increased by 37.45% to RUB 9,472,901, the shipbuilding firm said Tuesday.
St. Petersburg-based Severnaya Verf (Northern Shipyard) is a leading shipbuilding company of the Russian defense industry. The firm has been part of United Industrial Corporation since 2004. The shipyard specializes in building cruisers, destroyers, minesweepers, patrol vessels and antisubmarine, research and passenger vessels, timber cargo carriers, trawlers, container ships and Ro-Ro vessels for the Russian Defense Ministry and foreign customers.