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Russia's Transcontainer profit up 5.4pc to US$174.9 million as sales rise
RUSSIA's Transcontainer has posted a 5.4 per cent year-on-year net profit increase to RUB5.8 billion (US$174.9 million) in the first nine months of 2013, drawn on revenues of RUB28.8 billion, also up 5.4 per cent.
Rail volumes in Russia for the first nine months were down 2.5 per cent to 1.07 million TEU. Revenue generating box volumes fell 1.7 per cent to 821,000 TEU. In Kazakhstan, volumes soared 858 per cent to 163,000 TEU.
Terminal handling volumes in Russia decreased 8.3 per cent year on year to 978,000 TEU in the first nine months, mainly due to a 76.8 per cent decrease in handling of medium-duty containers.
Container terminal volumes in Kazakhstan went up 39.2 per cent to 145,000 TEU, reflecting an increase at the Dostyk cross-border terminal. Non-box cargo volume in Kazakhstan rose 17.2 per cent to 2.58 million tonnes.
"Given the challenging market environment, the company focused primarily on the cost control and business optimisation," reported Stock Market Wire.
Looking ahead, Transcontainer said after bottoming out in January-February 2013, the Russian container market resumed moderate growth from March.
"It is in line with the management's view that the Russian rail container market is expected to demonstrate middle single-digit growth for the full year 2013," the company said.
"The company notes a continuing deceleration of Russia's economy, reflected in recent downgrades of economic forecasts released by the Ministry of Economic Development, as well as remaining vulnerable to external factors. However, the company notes certain improvements in the rail freight market in the second half of 2013 and the continuing growth in the rail container segment," it said.
"Given the weaker demand for rail cargo and increasing competition in the container segment, the company believes that there is a limited space for pricing improvements in the near term. Under these circumstances, management will continue to focus on competitiveness, improvement in service quality and take measures in cost control and business optimisation," said the company statement
Rail volumes in Russia for the first nine months were down 2.5 per cent to 1.07 million TEU. Revenue generating box volumes fell 1.7 per cent to 821,000 TEU. In Kazakhstan, volumes soared 858 per cent to 163,000 TEU.
Terminal handling volumes in Russia decreased 8.3 per cent year on year to 978,000 TEU in the first nine months, mainly due to a 76.8 per cent decrease in handling of medium-duty containers.
Container terminal volumes in Kazakhstan went up 39.2 per cent to 145,000 TEU, reflecting an increase at the Dostyk cross-border terminal. Non-box cargo volume in Kazakhstan rose 17.2 per cent to 2.58 million tonnes.
"Given the challenging market environment, the company focused primarily on the cost control and business optimisation," reported Stock Market Wire.
Looking ahead, Transcontainer said after bottoming out in January-February 2013, the Russian container market resumed moderate growth from March.
"It is in line with the management's view that the Russian rail container market is expected to demonstrate middle single-digit growth for the full year 2013," the company said.
"The company notes a continuing deceleration of Russia's economy, reflected in recent downgrades of economic forecasts released by the Ministry of Economic Development, as well as remaining vulnerable to external factors. However, the company notes certain improvements in the rail freight market in the second half of 2013 and the continuing growth in the rail container segment," it said.
"Given the weaker demand for rail cargo and increasing competition in the container segment, the company believes that there is a limited space for pricing improvements in the near term. Under these circumstances, management will continue to focus on competitiveness, improvement in service quality and take measures in cost control and business optimisation," said the company statement
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