KDM increases revenue 13.8% yoy in 8M12

KDM Shipping (KDM PW) reported a 13.8% yoy increase in revenue to USD 10.9 mln in 8M12, despite a 7.2% decline in tonnage of cargo transported to 355 kt. Revenue growth was driven by its wheat transportation segment, which expanded 76.6% yoy in USD terms, having reached 30.9% of total revenue in 8M12, but was negatively affected by the general cargo segment, revenue from which decreased 63.6% yoy (the company’s third largest segment, 12.5% of revenue). August revenue grew 9.5% mom to USD 1.8 mln on a 9.3% mom boost in shipments to 64 kt.