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Transcontainer's 8pc profit increase, driven by Kazakhstan revenue spikes
RUSSIA's Transcontainer posted an eight per cent year-on-year pretax profit increase to RUB7.3 billion (US$296.7 million) in 2013, drawn on revenues of RUB39.2 billion, up 7.7 per cent.
"The increased contribution of the company's business in Kazakhstan to the overall financial performance should also be noted. As a result, TransContainer's results reflected the company's solid financial profile." said the statement.
"The year was challenging for both the rail freight transportation market and its container segment," the company said, reported StockMarketWire.com .
"The accelerating slowdown of the Russian economy, weaker customer demand and increasing competition among rail operators put transportation tariffs under pressure," the company statement said.
But Transcontainer said it took steps to enhance quality and reliability, balancing market share and profitability concerns while paying close attention to cost control and operating efficiency.
TransContainer's rail container volumes in Russia fell two per cent to 1.4 million TEU. Terminal handling volumes in Russia dropped 7.6 per cent to 1.3 million in 2013, mainly due to a 78.7 per cent decline in handling of medium-duty containers.
But Kazakhstan box volumes increase nearly 10-fold to 236,000 TEU in 2013, while container terminal handling by KedenTransService was up 10.7 per cent 186,000 TEU in 2013.
"The increased contribution of the company's business in Kazakhstan to the overall financial performance should also be noted. As a result, TransContainer's results reflected the company's solid financial profile." said the statement.
"The year was challenging for both the rail freight transportation market and its container segment," the company said, reported StockMarketWire.com .
"The accelerating slowdown of the Russian economy, weaker customer demand and increasing competition among rail operators put transportation tariffs under pressure," the company statement said.
But Transcontainer said it took steps to enhance quality and reliability, balancing market share and profitability concerns while paying close attention to cost control and operating efficiency.
TransContainer's rail container volumes in Russia fell two per cent to 1.4 million TEU. Terminal handling volumes in Russia dropped 7.6 per cent to 1.3 million in 2013, mainly due to a 78.7 per cent decline in handling of medium-duty containers.
But Kazakhstan box volumes increase nearly 10-fold to 236,000 TEU in 2013, while container terminal handling by KedenTransService was up 10.7 per cent 186,000 TEU in 2013.
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