Energy, Latvia, Oil, Transport
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Saturday, 27.04.2024, 02:06
Latvijas Kugnieciba and its subsidiaries report 3.3% reduction in revenue in H1
BC, Riga, 28.08.2015.
Print version
Print versionJoint-stock shipping company Latvijas Kugnieciba (Latvian Shipping Company) and its subsidiaries (LSC Group) posted USD 45.81 million in total revenue in the first half of the year, which was by 3.3% less when compared to the same period last year, reports LETA, according to the company's financial report presented to the NASDAQ OMX Riga stock exchange.
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Meanwhile, the LSC Group posted a net profit of USD 8.85 million in the first half of the year.
Fleet operating profit was USD 26.93 million in the first six months, which was higher than the same period in the previous year (USD 23.69 million).
As reported, the LSC Group posted USD 31.16 million in losses last year.
In the medium-sized and handy tankers categories Latvijas Kugnieciba is among the leading ship owners in the world, and in terms of transport volumes of petroleum products it is also in a leading position among similar companies in Northern Europe. It owns sixteen modern ships, employing more than 500 professional and highly qualified seamen from Latvia. The average age of the fleet is six years.
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