Russia's Novorossiysk 9-mth net profit up 345 pct

MOSCOW Fri Dec 21, 2012 5:10am EST

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MOSCOW Dec 21 (Reuters) - Novorossiysk Commercial Sea Port (NCSP) Group, a major outlet for oil and grain exports from Russia, said on Friday its net profit for the first nine months of 2012 jumped 345 percent, year-on-year, to $319.7 million.

Revenue edged up 0.5 percent to $785.9 million as total cargo turnover increased by 3.5 percent, year-on-year, the company said in a statement.

"Our results reflect the underlying robustness of our business, and our successful efforts to improve operational efficiency, but macroeconomic uncertainty still remains a significant factor for the future," said Rado Antolovic, the chief executive officer of NCSP Group.

"Looking forward, we retain our stance of cautious optimism," Antolovic added in the statement.

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