PKP Cargo finishes H1 2014 close to predictions

PKP Cargo, Polish railway freight transporting company, in Q2 of 2014 generated net profit of PLN 69.9 million, which was close to PLN 71.7 million predictions. EBIT was PLN 100.5 million, with the market consensus estimate at PLN 90.5 million. EBITDA rose to PLN 191.2 million, close to predictions of PLN 181.9 million. The group's revenue was only PLN 1.061 billion with PLN 1.097 billion estimations. In the first half of 2014 the group made PLN 126.7 million net profit with PLN 76.4 last year, PLN 168.9 million operating profit (PLN 126.3 million last year) and PLN 2.00998 billion income with PLN 2.291 billion in 2013. From January to June the group transported 51,221,000 tons of goods. The company reports that the lowering of the operational costs was mostly influenced by smaller costs of the third-party services, which were PLN 638 million high (13.6 percent lower than a year before).