KYIV. Feb 18 (Interfax-Ukraine) – State-run enterprise Sea Port Authority of Ukraine saw UAH 4.9 billion of net revenue in January-September 2015, which is 80% up year-over-year, according to a report on the operation of 100 largest state-run enterprises of Ukraine for the period of January-September 2015 posted on the website of the Economic Development and Trade Ministry of Ukraine.
According to the report, the authority saw a rise of 2.8 times in net profit over the period, to UAH 3.4 billion, and net cost-effectiveness grew to 67.9%, while a year ago it was 44%.
“Hryvnia devaluation played a large role in the considerable increase in the company’s profit, which led to a sharp rise in revenue in hryvnias with the retaining of the cash cost,” the ministry said.
Sea Port Authority of Ukraine is a state-run enterprise that supervises the functioning of 13 seaports in Ukraine. The enterprise was founded in 2013. It owns port infrastructure facilities. 80% of revenue is denominated in the U.S. dollars, while the hryvnias in its expenses prevails.
