zoom Russia’s Novorossiysk Commercial Sea Port Group (NCSP Group) has reported USD 10.1 million net profit for the first nine months of 2014, ten times less compared to USD 101.8 million the Group had earned for the same period last year.NCSP says that the decrease of net profit was caused by non-monetary expense on foreign exchange rate loss in the amount of USD 286.4 million, charged on Group’s financial obligations nominated in foreign currency as a result of their revaluation at the ruble exchange rate at the beginning and at the end of the reporting period. The Group also said that USD 1,95 billion Sberbank loan represents major source of foreign exchange gains or losses for the Group.NCSP Group’s consolidated revenue for 9 months 2014 increased by USD 55.5 million or 8.0%. year-on-year reaching up to USD 746.9 million.Cost of sales in the reporting period reduced by USD 15 million or 4.8% year-on-year, while SG&A decreased 11.6% year-on-year.Group’s EBITDA for 9 month 2014 increased by USD 71.1 million or 18.7% year-on-year up to USD 450.8 million. EBITDA margin improved by 5.5 percent points up to 60.4% versus that of the same period last year.PJSC NCSP’s CEO Sultan Batov said: ”NCSP Group’s financial performance has been outpacing operating results since the beginning of 2014 thanks to a diversified cargo mix and a strong marketing power to attract new volumes. Growing volumes of oil products, grain, ferrous metals, and containers translated into increase in revenue from these cargoes by 17.5%; 121.4%; 9.7%, and 19.6% respectively. This offsets the drop on crude oil revenue and other negative factors and brings up Group’s total revenue by 8.0% and EBITDA by 18.7% year-on-year. Revenue and EBITDA were also supported by increase of loading tariffs for crude oil, oil products, containers, coal, and metals.”Press Release
Valentina Escobar is the third winner of an iPad for participating in the National Survey on Student Engagement.The first-year Sociology student filled out the undergraduate survey, which is for first-year and graduating students. The survey was distributed recently to students’ email accounts.Brock is giving away a total of four iPad prizes to students who fill out the survey.