TransContainer's net profit under RAS is projected to increase 52.9-58.8 percent to RUB 2.6bn-2.7bn (approx. USD 93m-96m) in 2008 compared with the previous year, the Russian national container shipping company's General Director Pyotr Baskakov told journalists today according to RBC. He also announced that revenue would amount to just over RUB 18bn (approx. USD 643m) and reiterated that a year ago, net profit totaled RUB 1.7bn (approx. USD 61m) and revenue RUB 15.6bn (approx. USD 557m).
Commenting on the financial turmoil's influence on the sector, Baskskov noted that overall, freight forwarding operations fell 16 percent in November 2008 compared with the same month of the previous year. Meanwhile, TransContainer's operations dropped 4 percent in November, while the decrease is likely to be even less in December, Baskakov pointed out, adding that the decline is the worst in the transportation of automobile components, pulp and paper products, and non-ferrous metals. The general director also indicated that imports from Asian countries were being slashed considerably, as transportation of imported goods from China shrank 40 percent in November alone.