15 May 2014 17:06

Sovcomflot profit plummets 61% in Q1

MOSCOW. May 15 (Interfax) - OJSC Sovcomflot, the parent company of the Sovcomflot shipping group, saw its net profit to Russian Accounting Standards (RAS) plummet 61% year-on-year in Q1 2014 to 39 million rubles, the company said in a statement.

Sales revenue fell 10% to 360 million rubles.

Long-term liabilities grew 9% during Q1 to 222 million rubles, while short-term liabilities edged up 1% to 682 million rubles.