OREANDA-NEWS. January 20, 2012. NCSP Group (LSE: NCSP, MICEX: NMTP) reports that the Group’s total cargo turnover in 2011 amounted to 157 million tons which represents an increase of 3.6 million tons or 2.3% versus 2010 consolidated operating results.

To ensure comparability with previous periods the statistics have been adjusted for the volumes handled by Primorsk Trade Port Ltd., which was acquired by NCSP Group in January 2011.

Deputy CEO for marketing and sales of PJSC NCSP Rado Antolovic commented:

“In 2011, the Group managed to demonstrate strong operating performance: 2.3% growth of the Group’s total cargo turnover exceeded the industry average growth rate, which according to Russian Sea Ports Association amounted to 1.8% in 2011.

This evidences that the management was able to successfully substitute the decrease in cargo volumes caused by the unstable economic environment globally and the ban on grain exports from Russia, which was in effect until July of 2011.

Increase in container handling (29.3% in tons) and record monthly average grain handling volumes after the grain ban removal (total grain handling volumes increased by 0.3% in 2011) were the key factors for this substitution.

It should also be noted that the Group was able to maintain stable volumes of crude oil transshipment despite decrease of exports from Russia".

NCSP Group will release 2011 operational results at 5pm Moscow time on 18 January 2012.

About NCSP Group

Novorossiysk Commercial Sea Port is the largest Russian port operator and the 3rd operator in Europe in terms of cargo turnover. NCSP shares are traded on Russia's MICEX exchange (NMTP) and on the London Stock Exchange in the form of GDRs (NCSP).

50.1% shares of PJSC "NCSP" belongs to Novoport Holding Ltd, beneficiaries owners of which  are JSC “Transneft” and Ziyavudin Magomedov (Summa Group). NCSP Group consolidated cargo turnover in 2011 totaled 157 million tons. Consolidated revenue according to IFRS for the nine months of 2011 totaled USD 782 million and EBITDA of USD 404 million. NCSP Group combines the following stevedore companies: OJSC Novorossiysk Commercial Sea Port, PJSC Primorsk Trade Port (since 2011), PJSC Novorossiysk Grain Terminal, OJSC Novorossiysk Shipyard, PJSC Fleet of NCSP, OJSC NLE, OJSC IPP, and Baltic Stevedoring Company Ltd.