Sea Port St. Petersburg’s half-year profit drops 6.4 times

Net income of JSC Sea Port St. Petersburg according to Russian Accounting Standards (RAS) in the first half of 2012 plummeted by 6.4 times from last year’s numbers, to RUB 39,227,000, the company said in its statement. The company’s revenue shrank by 2.7 times to RUB 380,564,000.

JSC Sea Port St. Petersburg (part of UCL Port, a sub-holding, managing stevedoring assets of UCL Holding) is the largest operator, providing ranged services for handling of all types of dry bulk cargo in Big Port St. Petersburg. The company operates modern specialized terminals for handling Ro-Ro cargo, imported vehicles and metals. In 2011, cargo throughput at Sea Port St. Petersburg was 7.4 million tons. The Company invested RUB 319 million in upgrade and expansion of terminals and infrastructure.