Russia's Transcontainer says first-quarter net profit up 18 pct

MOSCOW, June 2 Mon Jun 2, 2014 2:21am EDT

MOSCOW, June 2 (Reuters) - Russian rail group Transcontainer reported on Monday an 18 percent rise in first-quarter net profit helped by lower costs, while the country's rail container transportation market grew 9 percent.

It expects the market to grow in mid single-digit percentage rates for the full year and said that increasing levels of competition in the container market may put operator tariffs under pressure.

Net profit for the quarter was 1.3 billion roubles ($37 million), Transcontainer said in a statement. ($1 = 34.8557 Russian roubles) (Reporting by Megan Davies; Editing by Maria Kiselyova)