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Sovcomflot posts 4.1-fold rise in 2023 net profit under IFRS to over $900 mln

Revenue increased by 22.6% in the reporting period to $2.3 bln, while operating profit doubled to $1.16 bln

MOSCOW, March 18. /TASS/. Adjusted net profit of Sovcomflot under International Financial Reporting Standards (IFRS) surged 4.1-fold in 2023 compared with 2022 to 83.5 bln rubles ($908 mln), the company reported.

"In the reporting period the company demonstrated strong financial results due to stable revenues amid its present portfolio of long-term contracts, as well as the operation of fleet amid high market environment," the report said.

Profit totaled 79.55 bln rubles ($865 mln). Earnings per share equaled 35.17 rubles.

Revenue increased by 22.6% in the reporting period to $2.3 bln, while operating profit doubled to $1.16 bln.

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Trump may be set to change US course on global conflicts, Russian envoy believes

Alexander Lavrentyev also pointed to the potential withdrawal of US troops from Syria

Some 300 Germans eager to move to Russia’s Nizhny Novgorod Region — authorities

Among those who are ready to move are technical professionals in the metalworking industry

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Top Russian security official hails strategic cooperation with China

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Russia supports new UNSC draft resolution on Gaza — envoy

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Trump to rely on forces that brought him to power — Russian presidential aide

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Amount of Russian assets frozen in Switzerland unchanged since August — agency

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Israeli foreign minister says preparations underway for annexing some West Bank areas

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Russian troops destroy fourth US-made Abrams tank in Ukraine operation

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Ukraine imposes sanctions on maintenance services of two Moscow airports

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Group plotting violent coup detained in Kyrgyzstan — interior ministry

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Ukraine retreating fast, delaying peace to result in lost territories — entrepreneur

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US plans to remove 'arrogant' Zelensky and stage 2025 elections in Ukraine — SVR

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Ukraine offers up to 750,000 dollars to Russian pilot for hijacking helicopter — TV

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Trump to reverse Biden’s executive orders in first week in office — press secretary

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Russian forces steadily advance on Boguslav direction — Belousov

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Russian lower house passes third reading of bill banning child-free propaganda

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