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2008 November 12   15:06

Net profit of North Western Shipping Company up 5.9% to RUR 298 mln in Jan-Sep 08

In January-September 2008, net profit of North Western Shipping Company OJSC amounted to RUR 298.069 million, the company reports.

In the reported period, the company’s revenue grew by 30.6% to RUR 2.906.74 billion due to increased freight rates for high-tariff cargoes (fertilizers, metal, grain), which account for 60% of the company’s total cargo turnover.

The company’s sales profit totaled RUR 202.001 million against RUR 23.715 million loss a year ago. Pre-tax profit amounted to RUR 388.354 million (+6.3%).

North Western Shipping Company (NWSC) is one of Russia’s largest river and sea shipping companies with a focus on the northern trading areas. It was originally founded in 1923 and privatized in 1993. NWSC comprises 2 shipping companies - North Western Fleet and Astrakhan Shipping Company, 3 ports and 2 shipbuilding and ship repair enterprises.

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