Novorossiysk Commercial Sea Port group (incorporates Primorsk, Baltic Stevedoring and several Novorossiysk-based port assets, including Novorossiysk Commercial Sea Port proper) has published financial results for 2017 in according with the Russian accounting standards.
Earnings were down 8.7% to до 24.7 bn rubles, gross profit down 15.1% to 18.3 bn rubles, sales down 16.2% to 16.9 bn rubles.
Profit before taxation dropped 27.9% to 33.9 bn rubles. Net profit made 30.5 bn rubles, 25% below the result posted in 2016.
Sales costs grew 16.5% up to 6.4 bn rubles, administrative and management expenses remained on the level of 2016 making 1.4 bn rubles.