6 Jul 2010 14:06

RZD expects over 900 bln rubles in revenue from cargo in 2011

ST. PETERSBURG. July 6 (Interfax) - OJSC Russian Railways (RZD) plans to earn over 900 billion rubles in revenues from cargo-hauling in 2011, the company's First Vice President Vadim Morozov told reporters on the sidelines of a St. Petersburg railway freight conference on Tuesday.

"We are putting together a financial plan for 2011 today, figuring revenues of more than 900 billion rubles from carrying cargo," Morozov said. Hauling freight provides more than 80% of all RZD revenues, he said.

Morozov added that revenue from cargo transport this year is forecast at the same level. He expressed certainty that the increase in transport in comparison with 2009 will come to over 5%.

RZD increased its net profit by 7.8% to 14.4474 billion rubles. Sales revenue for 2009 decreased by 4.7% to 1.0516 trillion rubles in comparison with 2008.

It was earlier reported that freight turnover in 2010 would increase 3.8% while total shipments will go by 3.7%.

Total transport on Russia's railways for 2009 came to 1.108 trill tonnes, a decrease of 15% in comparison with 2008. Cargo turnover in 2009 came to 1.866 billion tonnage-kilometers, down 11.8%.