Novorossiysk Profit Declined 40%

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The group’s consolidated earnings grew 5% year-on-year up to $237.9 mn.

EBITDA declined 2.5% down to $168 mn.

Net profit dropped 41.9% down to $111.2 mn.

Net debt decreased making $982.2 mn.

The group’s assets made $2.4 bn as of March 31, 2018.

Last week Russian business daily “Vedomosti” reported quoting Transneft Chairman Nikolay Tokarev that the assets, accounts and property of NCSP are under arrest due to the legal proceedings against owners of Summa Group, which is a co-owner of NCSP together with Transneft.

Earlier, FESCO, in which Summa is a major shareholder, said the assets of Summa’s another port shareholding, Commercial Port of Vladivostok, were arrested.