VMTP boosts RAS net profit 1.5-fold in 9M
VLADIVOSTOK. Nov 14 (Interfax) - PJSC Commercial Port of Vladivostok (VMTP) boosted net profit to Russian Accounting Standards (RAS) by 52.9% year-on-year to 2.691 billion rubles in 9M 2017, the stevedore said in a report.
Revenue grew 29.9% to 6.040 billion rubles. The company almost halved other expenses to 208.858 million rubles.
The company did not explain the reasons for the changes in financials.
The company has not yet disclosed data on cargo handling for 9M 2017.
According to the Association of Commercial Seaports (ASOP), Vladivostok Port boosted cargo handling by 19% year-on-year to 12.4 million tonnes in 9M 2017.
Key VMTP financials (in thousands of rubles):
| 9M 2017 | 9M 2016 | |
| Revenue | 6 040 293 | 4 651 633 |
| Cost of Sales | 2 685 696 | 2 358 221 |
| Gross Profit | 3 354 597 | 2 293 412 |
| Sales Profit | 2 650 058 | 1 861 445 |
| Pretax Profit | 3 336 077 | 2 223 325 |
| Net Profit | 2 690 972 | 1 760 071 |
Accounts payable grew from 1.046 billion rubles at the start of 2017 to 1.200 billion rubles on September 30. Accounts receivable grew 2.25-fold to 6.430 billion rubles.
VMTP is part of the FESCO Transport Group.