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.

Read more

The need for honest and objective information on Russia is more relevant now than ever before!

To keep our newsroom in Moscow running, we need your support.