Russia's Globaltrans reports 19 pct fall in 2013 earnings

MOSCOW, March 31 Mon Mar 31, 2014 2:13am EDT

Related Topics

MOSCOW, March 31 (Reuters) - Russian freight company Globaltrans Investment said on Monday its 2013 net profit fell 19 percent year-on-year, hit by depreciation costs related to its recent acquisitions.

Globaltrans said net profit was $251.6 million while adjusted revenue grew 6 percent to $1.4 billion, helped by an increase in its fleet size.

The company also said its board recommended a dividend of $110.8 million or 62 U.S. cents per ordinary share and global depositary receipt, representing a pay-out ratio of 61 percent. (Reporting by Maria Kiselyova; Editing by Elizabeth Piper)

FILED UNDER:
Photo

After wave of QE, onus shifts to leaders to boost economy

DAVOS, Switzerland - Central banks have done their best to rescue the world economy by printing money and politicians must now act fast to enact structural reforms and pro-investment policies to boost growth, central bankers said on Saturday.