BAKU, Azerbaijan, October 13
By Tamilla Mammadova – Trend:
The revenue of the Georgian subsidiary of the international transport company MSC exceeds $107 million, Trend reports via the report of the company.
MSC Georgia is one of the leaders of container shipping in the country.
As reported, the volume of shipped cargo through Georgia to Central Asia and other Caucasus countries increased in 2019. According to the report published by the company, their revenue increased by 39 percent (35.5 million lari/$11.06 million) in 2019 and reached 107 million lari ($33.3 million).
As of the report, the number of containers shipped by the company increased by 43 percent, the growth was driven by increased demand for imports by the South Caucasus and Central Asia.
However, most of MSC's revenue is generated by port cargo services. In particular, the revenue from terminal services was 85.9 million lari ($26.7 million). In total, the net profit of MSC Georgia has been 27.8 million lari ($8.6 million) in 2019, which is 7.1 million lari ($2.2 million) more comparing to 2018.
“The number of total containers (TEU) shipped by MSC through Georgian ports has increased by 43 percent during 2019, compared to the previous year," the company said in a report.
According to the audit report of MSC Georgia, the company is present in the Georgian market since 2009. To note, 80 percent shareholder of the company is Swiss company United Agencies Limited SA, while 20 percent is owned by Inveco LLC.
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