Net income of FESCO Transportation Group for the 2011 period ended December 31, totaled according to International Financial Reporting Standards (IFRS) US$ 29,140,000, which is 15.6 times below last year’s figure, the Group said on Thursday. FESCO's revenue for the period rose by 1.3 times to $ 1.03 billion.
About FESCO Group
FESCO Transportation Group, created on the basis of Far Eastern Shipping Company (FESCO), is a leading Russian integrated transport and logistics company providing a broad range of services for door-to-door cargo delivery using its own transport facilities to ensure guaranteed quality and reliability of the services. The Group owns a fleet of more than 900,000 DWT and operates a diversified fleet of over 19,000 units of rolling stock. FESCO’s own container fleet is about 50,000 TEUs. The Group’s total cargo throughput at the port facilities reaches 430,000 TEUs and 6 million tons of general cargo a year.
FESCO Group comprises FESCO Shipping, Transgarant (a major Russian railway operator), Russian Troika (an operator of rail container transport, a JV of FESCO and RZD), FESCO ESF Ltd (feeder container carrier in the Baltic Sea), Dalreftrans (operator of reefer container transport), Commercial Seaport of Vladivostok, Vladivostok Container Terminal, and FESCO Integrated Transport.