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Russian Railways’ net profit to exceed RUB 1 bn in 2013

Loading volumes in the Russian Railways network will increase 2.5 percent in 2013 from 2012 to 1,314 million tonnes

Photo ITAR-TASS

Photo ITAR-TASS

MOSCOW, November 9 (Itar-Tass) —— Russian Railways’ net profit will amount to 1.1 billion roubles in 2013, Transport Minister Maxim Sokolov said.

Loading volumes in the Russian Railways network will increase 2.5 percent in 2013 from 2012 to 1,314 million tonnes.

The company also plans to cut transportation expenses by 23.9 billion roubles in 2013 in order to balance out its budget.

Speaking of the results of 2012, Sokolov said the company’s performance indicators would be better than expected. Loading volumes in 2012 will increase by 3.7 percent compared to the projected 2.7 percent, and cargo turnover will grow by 4.3 percent compared to 1.2 percent projected before.

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