Vostochny Port boosts net profit 7.3-fold in H1 due to exchange rate differences
VLADIVOSTOK. Aug 17 (Interfax) - OJSC Vostochny Port , which is located in the Primorye territory, is the largest stevedoring company at Vostochny port and specializes in the handling of bituminous coal, in January-June 23015 increased net profit to Russian Accounting Standards (RAS) by 7.3 times in comparison with the same period of last year to 3.6 billion rubles, the company said in a report.
Revenue rose 3.5-fold to 6.338 billion rubles.
The company did not disclose handling volumes for January-June 2015. For the 5M 2015 the stevedore increased coal handling by 5% year-on-year to 9.069 million tonnes.
According to the report, the growth of net profit is most of all attributable to income from exchange rate differences: 3.779 billion rubles in H1 2015 against 503.607 million rubles a year earlier.