Net profit of TransContainer according to Russian Accounting Standards (RAS) in the first quarter of 2012 totaled RUB 1.28 billion, a 2.5 times growth from the same period last year, the company press release said.
The TransContainer first-quarter revenue rose 23.6% to RUB 7.73 billion.
"The positive trend in the financial performance of JSC TransContainer is attributed to the growth of the Company's operations, favorable container market conditions, and due to implemented program for improving its business profitability," the report says.
The volume of container traffic by TransContainer in Q1, 2012 grew 10.7% from a year earlier to 347,000 TEUs.
TransContainer, a subsidiary of the state-owned Russian Railways (RZD), was formed on March 4, 2006 on the basis of a RZD’s arm – Center for Cargo Container Traffic. TransContainer is a leading rail container operator in Russia, providing a broad range of services for container shipments and logistics services. TransContainer has a network of terminals in Russia and Slovakia. The Company boasts the largest rail car fleet in Russia, CIS and Baltic countries: more than 25.500 flatcars, some 60.000 containers of various sizes and over 840 units of trucks, tractor-trailers, etc. Net income for 2010 increased by more than 18 times year-over-year to RUB 404.2 million.