Consolidated net loss of FESCO Transportation Group according International Financial Reporting Standards (IFRS) for the first half of 2012 totaled $60.94 million versus revenues of $42.77 million a year earlier, the company said in a statement.
Revenue for the period jumped by 25.7% to $ 582.52 million.
Transport Group FESCO, created on the basis of the Far Eastern Shipping Company (FESCO), 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 services. The Group owns a fleet of more than 831,000 DWT and operates a diversified fleet of over 19,000 units of rolling stock. FESCO’s own container fleet is about 50,000 TEUs. In 2011, the Group’s consolidated revenues totaled $1,029 million, EBITDA was $225 million.