The press agency for the Ukrainian Sea Ports Authority says that profits for the first half of 2018 fell by nearly a third from the previous year. From Jan.-June 2018, the agency received Hr 1.305 billion of net profit, which is 28.6 percent less than for the same period in 2017.
“New, more liberal rates of port charges, reduced by 20 percent, came into effect on Jan. 1. The decrease in rates and in cargo turnover in Ukrainian ports in the first half of the year by 3.1 percent led to the decline in net income by Hr 600 million and net profit by Hr 500 million,” Head of the Ukrainian Sea Ports Authority Raivis Veckagans said.
According to the published reports, the agency’s net income for the six months decreased by 17.1 percent.
The company said during the mentioned period it transferred UAH 2.1 billion in favor of the state, including dividends in the amount of Hr 1.069 billion, and profit tax of Hr 307 million.
Veckagans added that the reduction of the authority’s payments to the national budget from 75% to 50% of net profit in the beginning of the year partly helped compensate for financial losses.
