RAS net profit of Transgarant LLC (FESCO Group) down 8% to RUR 411 mln in 2008
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In 2008, net profit of Firm Transgarant LLC (FESCO Transportation Group) under Russian accounting standard totaled RUR 411 million (-8%, year-on-year), the company’s press center reports.
In the reported period, the company’s revenue increased by 46%, year-on-year, to RUR 5.4 bln.
The assets value increased by 55% to RUR 10 bln.
Transgarant Managing Director Aleksei Gromov says the company managed to achieve good results in 2008. “The revenue increased while the net profit fell only due to revaluation of credid instruments”, he said.
Cargo turnover of Transgarant railway transportation amounted to 34.6 bln t-km (+8.1% against 2007). The volume of transportation increased by 17.3% to 24.8 million tonnes.
Firm Transgarant LLC is one of the leading companies in the Russian transportation market and a part of the FESCO Transportation Group. The company operates more then 13.2 thousand transport units and over 16.4 thousand units of rolling stock, 80% of which is owned by the company.