MOSCOW, December 18 (RIA Novosti) – London-listed TransContainer, Russia’s leading rail cargo firm, saw its IFRS nine-month 2012 net profit grow 42.8 percent year-on-year to 4.273 billion rubles ($140 million), the company said on Tuesday.
Analysts expected the rail cargo operator to post a net profit of 4.38 billion rubles in the first nine months of the year.
The company’s revenues increased by 24.5 percent to 27.353 billion rubles and its operating income grew by 35.3 percent to 5.943 billion rubles.
TransContainer’s EBITDA grew by 28.6 percent to 8.218 billion rubles.
The company’s total assets stood at 43.94 billion rubles and its equity at 26.922 billion rubles as of September 30, 2012.
“The increase in both the scale and profitability of TransContainer’s business resulted mainly from the company’s effective cost management and sales efforts amid continuing growth of the container transportation by the company’s fleet,” TransContainer said in a statement.
TransContainer’s largest shareholder is rail monopoly Russian Railways with 50 percent plus one share. Transportation Group FESCO holds 23.7 percent and the European Bank for Reconstruction and Development 9.25 percent.