Net income of JSC Freight One for financial year 2010 (according to IFRS) surged as much as 4,5 times from FY2009’s numbers, to RUB 19,9 billion, the company press release said. Revenues for the period increased by 44.5% from a year earlier, to RUB 103,5 billion.
Freight One’s CEO Igor Asaturov said the strong financial performance of the company was achieved on the back of overall economic recovery, a 30-percent growth of loaded volumes, increasing the fleet and operational efficiency of the company. FO succeeded expanding its clients base and managed to reduce the costs of empty run of rolling stock.
JSC Freight One is a leading provider of rail transportation in Russia. The Freight One was formed in 2007 by rail monopoly Russian Railways (RZD) that holds a 100-percent stake in the company. Currently FO owns and operates a fleet of over 200,000 units of rolling stock. In 2010, the rail operator carried 302,3 million tons of different cargoes.
Freight One’s CEO Igor Asaturov said the strong financial performance of the company was achieved on the back of overall economic recovery, a 30-percent growth of loaded volumes, increasing the fleet and operational efficiency of the company. FO succeeded expanding its clients base and managed to reduce the costs of empty run of rolling stock.
JSC Freight One is a leading provider of rail transportation in Russia. The Freight One was formed in 2007 by rail monopoly Russian Railways (RZD) that holds a 100-percent stake in the company. Currently FO owns and operates a fleet of over 200,000 units of rolling stock. In 2010, the rail operator carried 302,3 million tons of different cargoes.