Net income of Transgarant according to IFRS for the first half of 2011 totaled RUB 1.1 billion versus a loss a year earlier, the Company press office said.
Revenue of Transgarant for the period was 4 billion rubles, up 41% over the same period last year.
Half-year gain from rail transportation services rose by 36 percent to RUB 3.4 billion, which accounts for 87% of total net income.
Transgarant, part of FESCO Group is a leading private rail operator on the Russian transportation market. Transgarant provides ranged services for commodities carriage. The company incorporates four subsidiaries, Transgarant-Ukraine, Transgarant-Vostok, SIA Tektrans (Riga), Khabarovsk-based warehousing facility ‘Stroyopttorg’. Transgarant’s branches and offices are located in 30 cities across Russia, CIS and Baltic countries.
As of Dec. 31, 2010, Transgarant and its branches operated a fleet of over 15,900 railcars, 80% of them in the operator’s ownership. Transgarant also operates 5 main line diesel locomotives and 2 shunting locomotives.