Transcontainer, Bashneft: Business in Brief

Transcontainer Reports Q1 Profits Up 18%

Russian rail group Transcontainer reported Monday an 18 percent rise in first-quarter net profit helped by lower costs, while the country's rail container transportation market grew 9 percent.

It expects the market to grow in mid-single-digit percentage rates for the full year and said that increasing levels of competition in the container market may put operator tariffs under pressure.

Net profit for the quarter was 1.3 billion rubles ($37 million), Transcontainer said in a statement. (Reuters)

Bashneft Q1 Profits Rise 16%

Bashneft, a mid-sized Russian oil producer, posted 13.96 billion rubles ($400.5 million) in first-quarter net profit, up 16.4 percent year-on-year, thanks to higher sales and weaker ruble.

The company, part of oil-to-telecom holding Sistema, said its revenues were up 16.8 percent at 146.67 billion rubles. (Reuters)

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