OREANDA-NEWS. September 30, 2011. FESCO Transportation Group (RTS/MICEX: FESH/FESHG) announces its semiannual consolidated reviewed IFRS accounts for 6 months starting January 1, 2011.

Consolidated income of the Group reached USD  458.9 mln, or USD  98 mln higher than in 1H 2010. FESCO scored operating profit of USD  44.5 mln against USD  30.9 mln last year and a net profit of USD  45 mln. against the net loss of USD  28 mln. for 1H 2010. The Group’s consolidated EBITDA for the reporting period of USD  87.6 mln increased by 16%. The Group’s EBITDA margin amounted to 19.1%.

According to Yury Gilts, FESCO Vice-President & CFO, “…substantial increase of domestic demand for industrial and consumer goods in 1H 2011 in combination with FESCO’s successful development of high value added integrated logistics services enabled us to show good operational and financial performance. We grew not only in terms of volumes, but also, in pricing. Given the traditional seasonality of our business we expect even higher numbers in the 2nd half of the year, which supports our positive forecast for 2011 full year results”.