FESCO says RAS net loss narrows by 99% to 7.5 mln rbl in 2019

MOSCOW, Aug 18 (PRIME) -- The net loss of Russia’s Far Eastern Shipping Company (FESCO) narrowed by about 99% on the year to 7.498 million rubles in 2019, as calculated under Russian Accounting Standards (RAS), the company said in a report on Tuesday.

Revenue grew 31.2% on the year to 2.435 billion rubles in the period. The gross loss narrowed by 31.9% to 990.5 million rubles. Other incomes rose by 76.8% to 820 million rubles, incomes from ownership in other companies more than doubled to 1.47 billion rubles.

The cost of sales went up by 3.4% to 3.42 billion rubles. The profit tax decreased by 10.7% to 10 million rubles, while other expenses grew by about 75% to 798.92 million rubles.

Long-term liabilities of FESCO grew 45.4% in the year to 24.267 billion rubles, while short-term liabilities fell 59.6% to 3.646 billion rubles.

(72.9676 – U.S. $1)

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