Croatian Railways suffer losses

According to Limun, total consolidated losses of Croatian Railways (HZ) between January and July 2008 were HRK 28m, which is considerably more than HRK 300,000 ((1 HRK = 0.14 EUR) in losses recorded in the same period last year.

Total consolidated income amounted to HRK 1.98 billion, up 2.4 percent or HRK 49.6 million compared with the first seven months 2007. Passenger and cargo transport revenue amounted to HRK 641.1m, which is approximately the same level as last year.

At the same time, total consolidated expenditures were HRK 2.01 billion, up 3.8 percent or HRK 74.7m. In the first seven months, HZ invested HRK 643.9m.

Source: Amerian Shipper