PKP Cargo net profit falls significantly

PKP Cargo recorded a net profit of PLN 31.6 million in 2015, compared with PLN 78 million in 2014, Maciej Libiszewski, CEO of the company told the Polish Press Agency (PAP). "In 2015, our market environment was quite challenging, the logistics industry felt the problems of Polish mining. From the beginning of the year investments in track, related to the new EU perspective, were slowing down. It all had an impact on our results," he said. The company’s operating profit amounted to PLN 55.9 million, versus PLN 120.9 in 2014. Sales revenues totaled PLN 4.33 billion in 2015 and were slightly lower than last year’s PLN 4.16 billion. PKP Cargo is part of the PKP Group, the largest railway freight carrier in Poland and the second biggest in the EU.