RAS net profit of PAO Sovcomflot for Q1 2018 grew by 13.58% to RUB 502.466 million from RUB 442.393 million for the same period in 2017, the company reported.
Revenue increased by 28.63% to RUB 1.066 billion from RUB 828.673 million, sales profit by 75.94% to RUB 637.646 million from RUB 362.423 million, pre-tax profit by 30.29% to RUB 636.235 million from RUB 488.307 million.
SCF Group (Sovcomflot) is a major Russian shipping company, one of the world's leaders engaged in the marine transportation of hydrocarbons and providing maintenance services for off-shore oil and gas upstream projects. Its own and chartered fleet used to transport hydrocarbons from regions with challenging ice conditions numbers 143 vessels with a total deadweight of ca. 12.41 million tonnes.
Sovcomflot provides support to large offshore energy projects, such as: Sakhalin-I, Sakhalin-II, Varandey, Prirazlomnoye, Yamal LNG, Tangguh, Escobar, and Peregrino.
The company headquartered in St. Petersburg has representative offices in Moscow, Novorossiysk, Murmansk, Vladivostok, London, Limassol, Madrid, Singapore, and Dubai.
IFRS net loss of PAO Sovcomflot for 2017 was RUB 6.595 billion against a profit of RUB 13.835 billion the year before. Revenue from the charter and lease of vessels decreased by 10% to RUB 83.758 billion from RUB 93.053 billion, operating profit 2.43 times to RUB 9.602 billion from RUB 23.315 billion, loss before tax was RUB 5.698 billion against a profit of RUB 15.624 billion in 2016.
According to AK&M Information Agency's DataCapital information retrieval system, RAS net profit of PAO Sovcomflot for 2017 decreased 2.06 times to RUB 3.391 billion from RUB 6.971 billion the year before. Revenue decreased by 46.94% to RUB 5.09 billion from RUB 9.592 billion, sales profit 2.22 times to RUB 3.352 billion from RUB 7.437 billion, pre-tax profit twice to RUB 3.527 billion from RUB 7.065 billion.
"AK&M", 17.05.2018 15:28