Novorossiysk Shiprepair Yard states net profit of RUR 68.4 mln in Jan-Oct 08

In January-October 2008, RAS net profit of Novorossiysk Shiprepair Yard OJSC (part of Novorossiysk Commercial Sea Port) amounted to RUR 68.365 mln against the loss of RUR 22.848 mln in the same period of the previous year, the company reports according to Gudok. In the reported period, sales revenue grew by 15%, year-on-year, to RUR 546.54 mln.
The company attributes the result to elimination of loss-making orders, introduction of class cost system and strict prime cost control as well as growing volumes of stevedore services.

Novorossiysk Shiprepair Yard OJSC is located in the seaport of Novorossiysk. The Yard is capable of taking vessels of up to 200,000 tonnes in deadweight and 300 meters in length. Novorossiysk Shiprepair Yard operates two floating docks.