RUSSIAN intermodal freight transport company Transcontainer, announced that net profit in the first quarter fell by 7.5 per cent to RUB1.1 billion (US$34.8 million) compared to the same period last year due to a weak pricing environment and reduced demand for container transportation in Russia.
Revenue in the first three months of the year increased by 0.3 per cent to RUB8.6 billion. The company said in a statement that the worst period for the year is behind it and that it expects its 2013 profitability level to be in line with that seen in 2012.
Last year, the company's profit rose 34 per cent to RUB5.2 billion.
The company, which accounts for nearly half of Russia's container transportation, saw its rail volumes decrease 1.3 per cent during the period.
"The weaker demand for rail cargo transportation and higher levels of competition in the container segment put operator tariffs under pressure in the first quarter of 2013 and the pricing environment has not been restored yet," Transcontainer said in a statement.
WORLD SHIPPING
25 June 2013 - 08:37
Russia's Transcontainer Q1 profit down 7.5pc despite slight rise in revenue
RUSSIAN intermodal freight transport company Transcontainer, announced that net profit in the first quarter fell by 7.5 per cent to RUB1.1 billion (US$34.8 million)
WORLD SHIPPING
25 June 2013 - 08:37
Russia's Transcontainer Q1 profit down 7.5pc despite slight rise in revenue
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