Russian: Railways reports Profits!

Hello,

This is probably as my wife says: “That is not an exciting type of article.”

But to me it is great, I love trains of all types and in all countries. I watched the railroad system in America go down hill and take second place to the Trucking Industry. Now in Russia the Railroad system is King. The Railroad is why the road system is not very extensive in Russia. Russia has Railroad tracks all the way across the country but not roads. (or what you could call a road)

I will always love Trains, If we had the room in Russia we could build a scale model set, with all the trees, houses, bridges, and you name it!

How about you, Do you Love Trains?

Kyle

comments always welcome.

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“Russian Railways said its net profit more than doubled in the first half of this year compared to the same period of 2006, to about RUR 25.32 billion (approx. $984m) under Russian accounting standards. Revenue was up 18.9 percent at RUR 469.1 billion (approx. $18.2bn).

Freight traffic climbed 19.2 percent to RUR 371.87 billion (approx. $14.5bn) from January to June 2007, long-distance passenger traffic was up 23.9 percent to RUR 45.491 billion (approx. $1.77bn), and local passenger traffic dropped 4.9 percent to RUR 10.167 billion (approx. $395m).

Russian Railways’ gross profit doubled to RUR 58.673 billion (approx. $2.3bn) in the first six months of this year, while pre-tax profit increased 1.7-fold to RUR 50.341 billion (approx. $1.96bn).

In 2006, Russian Railways’ net profit increased 2.6-fold to RUR 26.4 billion (approx. $1.03bn), under Russian accounting standards. Revenue was up 13.38 percent at RUR 848.9 billion (approx. $33bn).

Russian Railways is Russia’s largest transportation company, accounting for 39 percent of the country’s freight traffic (including pipeline transportation) and for more than 41 percent of passenger traffic. It is also one of the world’s largest transportation systems. Russian Railways’ authorized capital is worth RUR 1.5452 trillion, or over $50 billion. The company is wholly owned by the government.”(RBC)

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