USC posts 2016 consolidated profit of RUB 3.18 bln, down 1.65 times, Y-o-Y (document)

United Shipbuilding Corporation (USC) says its consolidated profit in 2016 calculated under IFRS  decreased 1.65 times, year-on-year, to RUB 3.18 bln. The Company’s revenue grew by 7.54%, year-on-year, to RUB 301.94 bln.

Full IFRS report for 2016 is available at the website of IAA PortNews (in Russian) >>>>

United Shipbuilding Corporation (USC OJSC) is the largest shipbuilding company in Russia. It was set up in 2007 with 100% federal ownership. The holding comprises 40 companies and organizations (major shipbuilding and shiprepairing companies as well as leading design bureaus). Currently, USC consolidates the bulk of the domestic shipbuilding complex. The Russian market is the main focus of the state corporation though it also exports its products to 20 countries worldwide.