North-Western Shipping profit slashed
Russian cargoship owner hit by falling revenue in first nine months.
Russian cargoship owner North-Western Shipping (NWS) has posted a steep fall in earnings for the first nine months of 2016.
Net profit was RUB 439.92m ($6.88m) to 30 September, from RUB 1.52bn last year, under Russian accounting standards.
Revenue decreased by 11% to RUB 5.39bn from RUB 6.08bn.
Pre-tax earnings were down at RUB 443.85m from RUB 1.51bn.