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Russia's Novorossiisk swings to net loss in 2013
April 3, 2014 / 8:12 AM / 4 years ago

Russia's Novorossiisk swings to net loss in 2013

MOSCOW, April 3 (Reuters) - Novorossiisk Commercial Sea Port (NCSP) Group said on Thursday it swung to a net loss in 2013 due to foreign exchange losses and a goodwill impairment charge.

The port operator, which provides the largest outlets for Russian energy and commodity exports, reported a $105 million net loss compared with a $316 million net profit in 2012.

Revenue for the period stood at $928 million, down from $1 billion in the previous year, the company said in a statement. (Reporting by Gleb Stolyarov; Writing by Maria Kiselyova; Editing by Megan Davies)

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