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

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.