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The best private banks in 2008

The best private banks in 2008

An informative guide for high net-worth individuals on the range of service providers that are available

Country risk index

Country risk index

Bi-annual survey monitoring political and economic stability of 185 sovereign countries

Friday, April 25, 2008

State railways PKP group swings into net profit of EUR 21mn in 2007.





State railways PKP group swings into net profit of EUR 21mn in 2007. The state railways group PKP posted a net profit of PLN 77mn (EUR 21mn) in 2007, for the first time in its history, on sales revenue of PLN 11.3bn. Nine subsidiaries recorded profit last year, and only one posted a loss. In 2006 seven companies were profitable and three reported losses. The group target 2008 result close to the on ein 2007. Fast-train company PKP Intercity achieved net profit of PLN 50.2mn last year against PLN 34.8mn in 2006. According to the government’s 2008-2011privatization programme, the company is to debut on the Warsaw bourse in 2009. The second company slated for an IPO, PKP Cargo (its debut on the bourse is planned for 2009) saw its profit falling to PLN 12.1mn from PLN 194.4mn. The company’s EBIDTA was PLN 377.8mn against PLN 382.8mn a year earlier. The volume of train passengers serviced rose to 227mn last year from 219mn a year earlier. Goods transport decreased to 154mn tons from 157mn a year earlier, but the group plans to increase this transport to 155mn tons this year. The group’s debt decreased to PLN 5.7bn (including PLN 250mn of historical debt operations) from PLN 8.2bn a year earlier, PKP also said. ISB, tom


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