Ukraine's KDM Shipping posts 4.9% fall in net profit in 9M
KYIV. Dec 2 (Interfax) - KDM Shipping Public Ltd. (Cyprus), the holding company of the leading Ukrainian shipping operator, Capital Shipping Company LLC (Kyiv), saw $8.642 million in net profit in January-September 2013, which is 4.9% down year-on-year, the company said in a report.
The company said that its revenue grew by 32.4%, to $25.439 million.
Gross profit over the period declined by 0.2%, to $10.053 million and earnings before interest, taxes, depreciation, and amortization (EBITDA) was down by 5%, to $10 million.
The company said that KDM Shipping has finalized the inspection of six potential ships for purchase, and at present the negotiations for adding new ships are at the final stage. The company plans to close the deal by the end of the year.
KDM Shipping transports bulk cargos aboard river-sea class ships in the Black Sea, the Sea of Azov, and the Mediterranean Sea. The group has 10 vessels with total deadweight of 29,679 tonnes. The company also provides passenger services on rivers in Kyiv region (eight river class vessels) and ship-repair services at its own shipyard in Kherson.
KDM Shipping Public Ltd. saw $3.91 million in net profit in January-June 2013, which is 0.8% up year-over-year and its revenue grew by 26.5%, to $12.1 million.
