Net income of JSC "NCSP Fleet" (member of NCSP Group) for the period of 2011 ended December 31, according to Russian Accounting Standards (RAS) surged 42.1% from the 2010’s numbers to RUB 751.455 million, the Company said in a statement.
Revenue of NCSP Fleet in 2011 increased by 2.2 times to RUB 7,764,290,000.
Novorossiysk Commercial Sea Port Group is the largest Russian port operator. The NCSP Group incorporates the following stevedore companies: PJSC Novorossiysk Commercial Sea Port, PJSC Novorossiysk Grain Terminal, OJSC Novorossiysk Shipyard, PJSC Fleet of NCSP, OJSC NovorosLesExport, OJSC IPP, Baltic Stevedoring Company Ltd. and PJSC Primorsk Trade Port Ltd. Novoport Holding Ltd, which is beneficially owned by Transneft and Ziyavudin Magomedov (Summa Group) holds a 50.1% stake in PJSC NCSP.
NCSP Group’s consolidated revenue according to IFRS for the nine months of 2011 totaled $782 million and EBITDA of $404 million. In 2011, cargo throughput of NCSP Group (including PTP) totaled 157 million tons.