TransContainer boosts net profit 64% in 9M to 4.3 bln rubles
MOSCOW. Oct 23 (Interfax) - TransContainer boosted net profit 64% year-on-year in January-September to 4.277 billion rubles, the container rail freight operator said.
Sales revenue grew 19.3% to 24.97 billion rubles and operating profit rose 49.5% to 5.987 billion rubles.
Results improved on the back of increased freight volumes - TransContainer shipped 1.1 million TEU in the 9M, up 10.2% year-on-year, as the Russian container market sustained growth; and due to efforts to boost margins, including cost control.
The company's assets grew 6.2% year-on-year in the 9M to 38.881 billion rubles.
TransContainer owns and operates 59,000 heavy containers and more than 24,400 flatcars (representing about 60% of all those in Russia), and has a network of terminals in Russia (at 46 stations) and in Slovakia.
OJSC Russian Railways (RZD) owns 50% plus one share in TransContainer, the FESCO transport group 23.7%, the European Bank for Reconstruction and Development (EBRD) 9.25%, and CJSC Transfingroup, the trustee of pension fund Blagosostoyanie's pension reserves, 5.1%.