FESCO’s IFRS net profit totals $68.9 million in 2006
In 2006, net profit of Far East Shipping Company (FESCO) under IFRS totaled $68.9 million (6.1 times as high as in 2005), the company reports according to AK&M. Pre-tax income grew 2.3 times to $51.5 million, gross profit increased 1.5 times to $158.1 million. Sales grew 1.4 times to $457.5 million.
Far Eastern Shipping Company is one of the oldest and biggest Russian transport companies. It was established in 1880.
FESCO Transport group combines delivery means by sea, railway and motor transport, provides service on cargo reloading on its terminal facilities, realizes intermodal cargo transportation from ports of South Korea, Japan, China, Taiwan, Vietnam, Australia, New Zealand and the USA in different destinations in Russia, provides ice-breaker piloting in the area of the Russian Far East, eastern part of Arctic, Baltic and Antarctic, supplies the biggest oil and gas companies, working in the Far East.
