Freight One, a leading Russian rail transportation service provider, posted net income of RUB 15,186,000 (to RAS) for the first 9 months of 2011, a 97.3 percent surge year-over-year, the operator said Monday.
The company's revenue for the period grew by 28.7% to RUB 88,020,000.
JSC Freight One formed in 2007 by state-owned monopoly Russian Railways (RZD) is now a leading provider of rail transportation in Russia. Until recently, RZD was a 100% owner of its rail arm. In November, Russian steel tycoon V. Lisin won the auction (through UCLH) and acquired 75 percent minus two shares of Freight One in a $4.2 bn deal. 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.