Romania's National Railway Company ups profit, despite higher costs

Romania’s National Railway Company CFR recorded a turnover of EUR 85.6 million and a profit of EUR 16.5 million in the first five months of the year. The company improved its results despite higher costs generated by the minimum wage increase and the downward trend in transport volumes. The company plans to reduce its operational and non-operational costs and to further integrate in the Single European Transport Area, said Dan Costescu, CFR general manager. CFR estimates that the railway infrastructure would need investments of EUR 3.9 billion this year, almost four times higher than the financing allocated by the Government, which is about EUR 1 billion. editor@romania-insider.com