Transcontainer 2013 earnings up 14%

By: | at 04:57 PM | Intermodal  

Russian rail group Transcontainer said its 2013 net profit rose by 14.2 percent to 5.97 billion roubles ($169 million) as a one-off gain helped offset the market weakness.

Total revenues at the company, which accounts for nearly half of Russia’s container transportation, increased by 7.7 percent to 39.2 billion roubles, but earnings before interest, taxation, depreciation and amortisation fell 3.4 percent.

“The financial performance of the company during 2013 was negatively impacted by unfavourable conditions on the rail freight transportation market in the context of a slowdown in the economic growth,” the company said in a statement. (Reuters)


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