GENERAL NEWS

Shipyard profits rise

Importer 19 years ago

Severnaya Verf shipyard in St. Petersburg, Russia, increased its net profit by 84% last year up to $12.89 million. Revenue accounted for $311.5 million last year as opposed to $457.72 million in 2005. Profit before taxes were reported at $14.5 million, a 48.7% increase on 2005 figures.