USC expects IFRS net profit for 2019 at the level of the previous year

United Shipbuilding Corporation (USC) expects net profit for 2019 calculated under international financial reporting standards (IFRS) to be at the level of the previous year, IAA PortNews correspondent cites USC President Aleksey Rakhmanov as telling journalists in Moscow.

“Net profit will not be very different from that of the previous year”, he said.

IFRS net profit of USC for 2018 exceeded RUB 2.21 billion.

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.