FESCO Transportation Group Posts $63.6 Million First-Half Loss

FESCO Transportation Group, the largest shipping company in Russia’s far east, swung to a loss in the first half of this year because of asset impairment and higher costs, according to a report on the company’s website.

Net loss attributable to shareholders was $63.6 million compared to $38.2 million profit a year earlier, while sales rose 27 percent to $582.5 million, according to the website.

To contact the reporter on this story: Ilya Khrennikov in Moscow at ikhrennikov@bloomberg.net

To contact the editor responsible for this story: John Viljoen at jviljoen@bloomberg.net

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