Net profit of Commercial Seaport of Tuapse up 35% to RUR 242 mln in Q1 09

In the first quarter of 2009, net profit of Commercial Seaport of Tuapse increased by 35%, year-on-year, to RUR 241.935 mln, the company states.

In the reported period, the company’s earnings grew by 19% to RUR 517.712 mln.

Commercial Seaport of Tuapse (TMTP OJSC) is the main operator in the port of Tuapse, one of Russia’s largest ports. Major shareholder of TMTP OJSC (69.41%) is Universal Cargo Logistics Holding B.V. (UCLH). In 2008, Commercial Seaport of Tuapse handled 19.4 million tonnes of cargo (99% of the company’s throughput in 2007).