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Novorossiysk Port’s IFRS Profit Up

  • Novorossiysk Commercial Sea Port has published its IFRS financial results for January-June 2019.

    Revenue was down 5.3% year-on-year to $455.1 mn. EBITDA grew by 0.4% to $344.1 mn.

    Operating expense declined by 20.4% down to $117.3 mn.

    Net profit was up 4.-5-fold to $630.4 mn. $444.4 mn in this sum is earnings on the sale of a subsidiary.

    This spring, NCSP sold their grain terminal in Novorossiysk to VTB Bank for 35.5 bn rubles.

    The sum marked as ‘earnings on the sale of a subsidiary’ excluded, the Group’s net profit doubled.


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