NCSP Group (LSE: NCSP, MICEX: NMTP) reports that according to preliminary estimates total cargo turnover in January-February 2012 amounted to 26.9 mln tons.
“Despite continued extreme weather conditions not observed for many years, NCSP’s total cargo turnover growth continued in February.
The average daily turnover in February 2012 exceeded that of February 2011 by 20%”, - Deputy CEO for Marketing and Sales on PJSC NCSP Rado Antolovic commented.
I would like to note that even after adjustment for the impact of grain exports resumption, the growth rate of the Group’s turnover in January-February 2012, amounted to c. 9.5% - he said.
This indicates that the new management team succeeded in the past year in attracting new cargo and improving efficiency of the Group."
“Strong operating performance in the first two months of 2012 allows us to expect continued improvement in financial performance relative to 2011 and execution of the annual budget”, - Rado Antolovic added.
About NCSP Group
Novorossiysk Commercial Sea Port is the largest Russian port operator and the 3rd operator in Europe in terms of cargo turnover. NCSP shares are traded on Russia's MICEX exchange (NMTP) and on the London Stock Exchange in the form of GDRs (NCSP).
50.1% shares of PJSC "NCSP" belongs to Novoport Holding Ltd, beneficiaries owners of which are JSC “Transneft” and Ziyavudin Magomedov (Summa Group). NCSP Group consolidated cargo turnover in 2011 totaled 157 million tons. Consolidated revenue according to IFRS for the nine months of 2011 totaled $782 million and EBITDA of $404 million. NCSP Group combines the following stevedore companies: OJSC Novorossiysk Commercial Sea Port, PJSC Primorsk Trade Port (since 2011), PJSC Novorossiysk Grain Terminal, OJSC Novorossiysk Shipyard, PJSC Fleet of NCSP, OJSC NLE, OJSC IPP, and Baltic Stevedoring Company Ltd.
For more information please contact:
Media: M.Sidorov@nmtp.info; senko@ncsp-net.com;
Investement Community: MGrigoriev@nmtp.info