REUTERS
Ukrzaliznytsia became profitable in 2017.
State-run Ukrzaliznytsia says it expects its net profit in the first quarter of 2018 will hit UAH 200 million, or US$7.63 million.
"Our profitability last year was estimated at UAH 100 million," the company's acting CEO Yevhen Kravtsov said at the Ukrainian Infrastructure Forum in Kyiv on Thursday. "I can confidently say that the results of the first quarter demonstrate that we will reach UAH 200 million."
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"This means that during one quarter, we'll manage to earn twice the sum earned during the entire last year," he added.
Kravtsov earlier cited a report by the audit firm, E&Y, which confirmed that Ukrzaliznytsia's profit in 2017 was UAH 100 million against UAH 7.3 billion in loss in 2016.
UNIAN memo. Ukrzaliznytsia is a public joint-stock company wholly owned by the state. It is on the list of companies that are not subject to privatization. It accounts for 82% of freight transportation and about 50% of passenger transportation by all types of transport. It ranks fourth in terms of fright transportation in Eurasia, following the railways of China, Russia, and India.