SCR TO REACH BREAK EVEN POINT BY 2016
PanARMENIAN.Net
24.12.2009 17:19 GMT+04:00
/PanARMENIAN.Net/ By 2016, "South Caucasus Railways" will work without
losses, company’s CEO Shevket Shajdullin told a press conference in
Yerevan. According to him, the company failed to reach the planned
target of income, fulfilling it at 91.4 per cent.
According to Shevket Shajdullin, in order to support the country’s
economy, the company has not raised its transportation rates since
2008 despite the growth of electricity tariffs in April 2009. "Loss
of profits amounted to 845 million rubles since we basically did not
raise rates, and the new electricity tarriffs, assumed by our company,
caused us more than AMD 300 million spending," he explained.
Thus, according to Shevket Shajdullin, railroaders’ contribution into
Armenian economy efficiency, in industry and business has surpassed
AMD 1 billion.
The company managed to optimize its costs and reach the planned
level of the losses. Now SCR plans to reach breakeven point by 2016,
director general said.
From: Emil Lazarian | Ararat NewsPress
