Net profit of Ust-Luga Company down 25.7 times to RUR 6.3 mln in Q1 09

In the first quarter of 2009, net profit of Ust-Luga Company fell 25.7 times to RUR 6.299 mln, the company states.

In the reported period, the company’s earnings fell by 26.4% to RUR 101.239 mln.

In 2008, the company’s net profit increased 11.8 times, year-on-year, to RUR 9.259 mln, earning were 2.2 times up to RUR 443.211 mln.

Ust-Luga Company JSC was established in 1992 for implementation of a project on construction of Russia’s new commercial seaport in the Luga Bay of the Gulf of Finland. Ust-Luga Company JSC has several lines of activity related to creation of the largest in Russia multipurpose commercial seaport Ust-Luga and complex social-economic development of the territories adjacent to the port.