Novoship says swings to 4.2 bln rbl IFRS net loss in January–June

MOSCOW, Aug 30 (PRIME) -- Russia’s Novorossiysk Shipping Company (Novoship), a unit of Sovcomflot, posted a net loss of 4.2 billion rubles in January–June after a net profit of 966.8 million rubles in the same period of 2020, as calculated under International Financial Reporting Standards (IFRS), the company said on Monday.

Revenue decreased by 19% to 12.6 billion rubles, and operating loss amounted to 4 billion rubles after a 3.4 billion ruble operating profit.

Liabilities fell 48% to 8.195 billion rubles.

(73.9866 – U.S. $1)

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