Ukrainian Sea Ports Authority’s Revenue Exceeds UAH 2 Billion In First Quarter Of 2017

11 May 2017 17:04

The revenue of the Ukrainian Sea Ports Authority amounted to UAH 2.158 billion and its net profit amounted to UAH 983.024 million in the first quarter of 2017, the CFTS portal reports, citing information from the Ukrainian Seaports Authority.

The state enterprise made direct contributions totaling UAH 1.078 billion or 49% of its total revenue into the state budget in the first quarter of 2017. It paid UAH 4.250 million as profit tax and UAH 760.936 million as dividends. In addition, the Ukrainian Sea Ports Authority transferred more than UAH 450 million into the budget in April this year and it will transfer an additional UAH 420 million into the state budget for the first quarter in May, the Ukrainian Sea Ports Authority’s head Raivis Veckagans said.

Capital investment in infrastructure amounted to UAH 5.881 million during the period from January to April 2017. "This does not meet our expectations because of the failure to approve the financial plan for the current year. We hope that the state enterprise’s main financial document will be approved by June 1 and that we will start full-fledged investment in development of port infrastructure facilities," said Veckagans.

As reported earlier, the Ukrainian Sea Ports Authority transferred 63% of its revenues into the state budget in 2016.