TransContainer sees good market trends as driver of financial gains in 2011
MOSCOW. March 6 (Interfax) - OJSC TransContainer said that the increase in its financial results according to Russian accounting standards (RAS) for 2011 had been driven by growth in operations thanks to positive economic trends.
Among the miscellaneous factors, the operator cited its program for boosting business margins. "For instance, the amount of expenditures on dry runs went down by 3% since container dry runs decreased to 34% from 39% in 2010," the statement said.
It was earlier reported that the company's RAS net profit for 2011 increased by 1140% to 3.481 billion rubles, sales revenue - 27.8% to 29.097 million rubles, profit from sales - 190% to 5.587 billion rubles, pretax profit - 490% to 4.781 billion rubles. At the same time, total container transport increased 13.3% to 1.362 million TEU, total handling of which at Russian terminals went up by 4.8% to 1.577 million TEU (including multi-tonnage containers, up 14.4% to 1.381 million TEU).
TransContainer owns and operates 60,000 large containers, more than 24,000 railway platforms for transporting them (some 60% of the overall number in Russia), and has a network of terminals at 46 stations in Russia and Slovakia. RZD owns 50% plus one share in the company, the transportation group FESCO 18.5%, and the European Bank for Reconstruction and Development (EBRD) 9.25%.