Good for Business, Latvia, Railways, Transport

For comparison, the respective period last year was concluded with losses of EUR 4 million.

PV's CEO Andris Lubans says that the positive financial data, which the company keeps posting already for the fourth quarter, clearly show that the situation in the company has stabilized. "The rate at which the passenger turnover is falling is beginning to slow down. We have managed to significantly reduce the company's expenditure, improve efficiency of resource utilization, develop a new strategy – this has enabled PV to return to profit," believes Lubans.

The number of passengers who pay fill fares was 2.2.% lower in the first half of 2015 than in the first half of 2014. In the first quarter of the year, the year-on-year decrease was 3.4%.

In the first half of 2015, PV's net turnover reached EUR 31,225,380, which is EUR 4,273,835 more than in the respective period last year. The company's costs reduced by EUR 914,938, as compared with the respective period last year.