The state enterprise Ukrainian Sea Ports Authority (USPA) expects to obtain net profits of $121 million in 2018. At the same time, the enterprise estimates its revenue at $304 million, pay around $165 million to the state budget in the form of taxes and fees. The head of USPA Raivis Veckāgans said, Interfax-Ukraine reports.
“We expect a slight growth in cargo handling, but due to the decision by the Cabinet of Ministers to cut port duties by 20%, which is going to cause dividends from 75% to 50%, therefore altering the indicators of the financial plan. What concerns capital investments, estimated at $157.5 million, we are going to attract some additional resources, which we are going to invest”, - Veckāgans said in an interview with Interfax-Ukraine.
According to USPA head, the money allocated for capital investments in 2017, but not spent eventually, will be directed towards the financing of the projects planned for this year.
Apart from that, Veckāgans said that according to the 2017 data, USPA’s revenue amounted to $304 million, whereas its profits stood at $128.2 million. The enterprise paid over $175 million into the state budget of Ukraine through various taxes and duties.
“We attracted $58.6 worth of capital investments, which is almost three times higher than in 2016. This is less than we had planned: our general plan estimated the figure at $143 million. However, since we approved the plan in the middle of the year, we didn’t have time for their acquisition. This is why we are happy with the decision by the Cabinet of Ministers that approved the financial plan for 2018 in December 2017. I am very hopeful that this year we will be able to fulfill all our plans and complete the projects”- the head of the USPA summed up.