LV: Latvian Railways cargo turnover up by 6% y/y in Jan-Oct.

By bne IntelliNews November 7, 2012
In Jan-Oct, Latvian Railways (Latvijas Dzelzce? - LDZ) handled a total of 51.25mn tonnes of cargo, which made a 6% y/y increase, BNS reports. To compare, in 2010 cargo turnover declined by 8.4% to 49.2mn tonnes, in 2011 increased by 20% y/y to 59.39mn tonnes, and in H1/12 by 12% y/y to 33.5mn tonnes. Given a base scenario, the company expects to reach the same cargo turnover as last year. Notably, LDZ was the largest railroad carrier in the Baltics and fifth largest in EU overall last year. Previously it was announced that LDZ made a net profit of LVL 19.2mn (EUR 27.3mn) in 2011.

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