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Cargo Slovakia sees rise in operating profits and fall in overall losses

State-owned railway freight carrier Cargo Slovakia (ZSSK Cargo) recorded an operating profit of €29.1 million in first half of 2011 the TASR newswire learned from ZSSK Cargo General Director Pavol Ďuriník on Wednesday, July 20.

State-owned railway freight carrier Cargo Slovakia (ZSSK Cargo) recorded an operating profit of €29.1 million in first half of 2011 the TASR newswire learned from ZSSK Cargo General Director Pavol Ďuriník on Wednesday, July 20.

"The company saw a year-on-year growth of €28.8 million, with the volume of transported cargo remaining the same. This improvement is the result of gradual cuts in operational costs," said Ďuriník. The total business result over the first six months shows a loss of €6.2 million, which amounts to a year-on-year improvement of €30.1 million. "The year-on-year growth in positive operating business results and the reduction of loss in total business result by 83 percent clearly indicate that the company is on the path to financial stabilisation," he added.

Source: TASR

Compiled by Zuzana Vilikovská from press reports
The Slovak Spectator cannot vouch for the accuracy of the information presented in its Flash News postings.

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