Net profit of Kuban River Shipping Company doubles in January-September 2006

Net profit of Kuban River Shipping Company grew in January-September 2006 by 2.2 times against year-on-year result amounting to 26.916 million rubles, Interfax reports according to RZD-Partner. The company’s net profit in the third quarter totaled 18.871 million rubles. The company’s profit in the first half-year amounted to 8.045 million rubles. In January-September 2005 net profit of the company was 12.227 million rubles. The company attributes the result to growth in sales of non-ore construction materials, as well as to dredging works at Kuban river according to state contract. Kuban River Shipping Company comprises Krasnodar River port and Temryuk Shipyard. Donrechflot OJSC holds 84.43% of the company’s stock, Consult-Invest LLC – 7.9% of shares.