Cargo Slovakia expects operating profit in 2011.

By bne IntelliNews December 8, 2010
State-run railway freight company Cargo Slovakia expects to register an operating profit of EUR 67mn in 2011, news agency SITA reported citing company spokesperson Martin Halanda. The positive financial result in 2011 will be due mostly to a reduction of operating costs. For 2010, the company expects a a loss of EUR 99.4mn compared to earlier projections for a loss of EUR 82mn. In 2009, the loss was EUR 126.6mn. Both operating revenues and costs are expected to exceed initial forecasts in 2010. The company recently announced that it may lay off 20% of its employees as part of its strategy to increase efficiency. Cargo Slovakia expects to retain a positive trend regarding the volume in transported cargo in 2010 and 2011 as well.

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