PKP earned PLN 219 mln in 2014

The Polish State Railways (PKP SA) recorded a net profit of PLN 219 million in 2014, compared with PLN 232 in 2013, Jakub Karnowski, CEO of the company told Polish Press Agency (PAP). According to him, the result is an effect of the simplification of railway companies' structures and their improved effectiveness. The company's sales came in at nearly PLN 700 million in 2014, the sum being equal to that recorded in 2013.  Among the company's subsidiaries, the best financial results were recorded by railway freight carriers: PKP Cargo generated a net profit of PLN 61.2 mln, while PKP LHS earned PLN 75 million. In turn, long distance passenger transport company PKP Intercity reported a loss of PLN 54 million.  One has to bear in mind that the company doesn't include PKP TLK in its financial statements, a subsidiary which generates huge losses each year, Jakub Majewski from foundation Pro Kolej was quoted as saying by PAP.