RAS net profit of Novorossiysk Commercial Sea Port down 2.8 times to RUR 362.3 bln in Q1 09

In the first quarter of 2009, net profit of Novorossiysk Commercial Sea Port OJSC under Russiaan Accounting Standard fell 2.8 times to RUR 362.303 bln, the company ststes.

In the reported period, the company’s earnings totaled RUR 3.008 bln (up 1.6 times, year-on-year).

Novorossiysk Commercial Sea Port (NMTP Group) is Russia’s largest port operator. The Group comprises the following stevedoring companies: Novorossiysk Commercial Sea Port OJSC, Novorossiysk Grain Terminal OJSC, Novorossiysk Ship Repair Yard OJSC, NCSP Fleet OJSC, Novolesexport OJSC, IPP OJSC and Baltic Stevedore Company LLC..  In 2008, the Group’s throughput totaled 81.6 million tonnes.