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Sovcomflot projects significant improvements in 2015

Russian tanker carrier Sovcomflot delivered an improved net result and EBITDA in the first quarter of the year, and the company expects a greatly improved result in 2015 than the year before, notes the carrier.

State-owned Russian carrier Sovcomflot grew its operating profit and net result in the first three months of the year, where the tanker carrier achieved a net result of USD 97 million, compared to USD 58.1 million in the quarter 2014.

Revenue experienced a slight setback of 1.7 percent, to USD 359 million in the period, according to Sovomflot's interim report, published Wednesday. The operating profit (EBITDA) increased to USD 178.5 million from USD 153.7 million in the same period last year.

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