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Freight One’s Profit Up 35%

  • Russia’s Freight One, a rail operator incorporated in UCL Holding, has published its financial performance results during 2018.

    Earnings were up 6.2% year-on-year to 104.1 bn rubles, operational profit up 14.7% to 36.1 bn rubles, profit before tax up 30.6% to 33.9 bn rubles and profit for the period up 34.5% to 26.6 bn rubles.

    Services and materials costs were down 6.9% to 54.5 bn rubles, amortization declined 11.2% down to 6.9 bn rubles, while personnel expenses increased by 11.2% up to 7.6 bn rubles.

    The assets as of December 31, 2018 amounted to 159.4 bn rubles, up 16.7% year-on-year.

    The shareholders at their AGM held on Monday resolved not to distribute the net profit and to pay no dividends.

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