FESCO’s IFRS 1H06 net profit totals $53 million

Net profit of the Far East Shipping Company OJSC amounted in the first half of 2006 to $53 million under IFRS against $10.2 million of loss in the similar period of 2005, Iterfax reports according to RZD-Partner. The company’s revenue totaled $171 million over the reported period (+15% against year-on-year result), operating expenses amounted to $110.7 million (-4.7%).