Severnaya Verf posts for H1, 2012 net loss of RUB 763m
Net loss of Severnaya Verft Shipyard for the first half of 2012 according to Russian Accounting Standards (RAS) increased by 2.5 times compared to January-June 2011, to RUB 763,073,000, the shipbuilding company said.
Revenue of the company for the reporting period fell 32% to nearly 3.9 billion rubles.
St. Petersburg-based Severnaya Verf (Northern Shipyard) is a leading shipbuilding company of the Russian defense industry. The firm has been part of Moscow-headquartered United Industrial Corporation since 2004. The shipyard specializes in building cruisers, destroyers, minesweepers, patrol vessels and antisubmarine, research and passenger vessels, timber cargo carriers, trawlers, container ships and Ro-Ro vessels for the Russian Defense Ministry and foreign customers.