Support The Moscow Times!

Russia's Novorossiisk Sea Port Says 9-Month Net Profit Down on Weak Ruble

Novorossiisk Commercial Sea Port

Russia's largest commodity exports operator Novorossiisk Commercial Sea Port Group, or NCSP, said Tuesday that its nine-month net profit fell to $10.1 million, year-on-year, because of the weak ruble.

In the first nine months of 2013, NCSP saw net profit of $101.8 million. The company said in a statement that its expenses related to the foreign exchange rate stood at $286.4 million, affecting net profit.

The company added its revenues were up 8 percent at $746.9 million, year-on-year.

… we have a small favor to ask. As you may have heard, The Moscow Times, an independent news source for over 30 years, has been unjustly branded as a "foreign agent" by the Russian government. This blatant attempt to silence our voice is a direct assault on the integrity of journalism and the values we hold dear.

We, the journalists of The Moscow Times, refuse to be silenced. Our commitment to providing accurate and unbiased reporting on Russia remains unshaken. But we need your help to continue our critical mission.

Your support, no matter how small, makes a world of difference. If you can, please support us monthly starting from just $2. It's quick to set up, and you can be confident that you're making a significant impact every month by supporting open, independent journalism. Thank you.

paiment methods
Not ready to support today?
Remind me later.

Read more