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Lietuvos Gelezinkeliai posts EUR 12 mln in profit in 2017

BC, Vilnius, 18.12.2017.Print version
Lietuvos Gelezinkeliai (Lithuanian Railways, LG) posted 12 million euros in profit this year, while the state-run company's revenue grew by a tenth to 403 million euros, CEO Mantas Bartuska said, cites LETA/BNS.

In his words, the good results were driven by an increase in freight and passenger volumes.


"In the October-November period, the haulage of freight was extremely successful, we reported an increase by over 20%. We are raising freight volumes to Klaipeda, transporting more grain, as well as delivering more to the (Russian) Kaliningrad region," Lietuvos Gelezinkeliai's CEO told a press conference on Monday.


Over the first 11 months of 2016, the company netted a profit of 3.3 million euros.


Lietuvos Gelezinkeliai's freight traffic grew by 9.4% to 47.7 million tons in January-November year-on-year, while passenger numbers went up by 0.7% to 3.3 million.


The company has not yet published any financial, loading or passenger traffic plans for next year.


"I do not want to specify any final plans, we are finalizing the budget. We have an ambition of raising both passenger and freight traffic. We expect the next year to be successful and with good results," said Bartuska.

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