Estonian Railways Profit in First Half-year over EEK 42 Million

31.07.2008 (16:51)

Estonian Railways earned EEK 778.4 million in the first half of 2008, out of which profit made up EEK 42.3 million.

Even though in the previous year Estonian Railways transit volume decreased sharply, the economic indicators have been very good due to swift and effective saving programme and increasing efficiency, ERR News reports according to Baltic Business ews.

As part of savings plan, the company has significantly cut down on expenses during this and previous year. In addition, Estonian Railways laid off 250 employees last year and plans to lay off 200 more this year. Reducing labour force is possible thanks to merging tasks and automating work operations, which has increased efficiency.

Still, Estonian Railways continues to invest in modernising the infrastructure of railways. For example, repairs at Tartu-Valga railway were started. In addition, repairing crossings and passenger platforms with the aid of EU is being planned.

In the first six months of 2008, 8.89 million tons of goods less were transported than during the same period in 2007.

In the first half-year of 2007, Estonian Railways profit amounted EEK 46 mln.

( 10 EEK = 0.6427 EUR )
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