Latvian rail company Latvijas Dzelzcels (LDz) announced a turnover of EUR 97.29 million in the first half of this year, which represents a 0.5% increase on the previous year. The company posted EUR 7.9 million in profit in the first six months, which was a three-fold increase when compared to the first six months of 2016.
Latvijas Dzelzcels has worked on reducing costs not related to rail traffic and rail safety, which has helped ensure a stable financial situation for the company. The company has also been active in finding new markets, mostly in the Eurasia region. Furthermore, cargo shipment networks with China have also been introduced.
LDz has started a modernization project of rail networks in Riga and Daugavpils this year, and the company needs to invest EUR 16 million worth of co-financing for this project.
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