CPV’s net income drops 34.33% to US$16 million

Net income of JSC Commercial Sea Port of Vladivostok (CPV) under International Financial Reporting Standards (IFRS) in the first half of 2013 shrank by 34.33% year-on-year to RUB 532 million (US$ 16,032m). Revenue for the period soared twofold from last year’s figures, to RUB 3,505 bn, the company said in a press release.

Commercial Seaport of Vladivostok, member of FESCO Transport Group, owns and operates its assets at the port of Vladivostok, a premier Russian seaport in the Far East region. Port of Vladivostok encompasses 55 ha, over 14 km of waterfront featuring 17 berths with terminals for handling grain, containers, imported vehicles, as well as a passenger terminal. In 2012, CPV’s cargo throughput rose 4.0% year-over-year to 6,668,100 tonnes.