RAS net profit of Sea Port of Saint Petersburg up 5.47 times to RUR 42.1 mln

In the first quarter of 2009, net profit of Sea Port of Saint Petersburg OJSC under Russian Accounting Standard increased 5.47 times, year-on-year, to RUR 42.125 mln.  According to the company’s official statement, the increase should be attributed mainly to a decreased cost value of sold goods, works and services.

Sea Port of St. Petersburg (Group of Companies) includes First Stevedoring Company CJSC, Second Stevedoring Company CJSC, Third Stevedoring Company, Forth Stevedoring Company CJSC, Multipurpose Transshipment Complex in Ust-Luga and a number of service companies. In 2008, the Group’s stevedoring companies handled 11 million tonnes of cargo. The Group’s specific share in total throughput of Big Port of St. Petersburg makes some 18%.