Profit of Railways of FBiH a Million BAM more than last Year

September 27, 2017 10:00 AM

The pre-tax profit of the Railways of the Federation of Bosnia and Herzegovina (BiH) for the period the first half of 2017 is 3,155,460.00 BAM and is 953,184.00 BAM more than the same period last year .

The income of the company for this reporting period is 50,293,964.00 KM, while expenses amount to 47,138,504.00 KM.

The total income for that period amounted to 52.454.505,00 BAM and 403.613,00 BAM more than the first six months of 2016. Total expenditures amounted to 65,406,140.00 BAM and were 135,941.00 BAM less than the same period last year, while losses were 539,554.00 BAM less than the first six months of 2016 and amounted to 12,951,635.00 BAM. Depreciation costs increased and amounted to 17,050,859.00 BAM, while they were 14,614,704.00 KM in the same period of last year.

“The reduction of costs was a decisive factor in increasing the company’s profit. For this reporting period, the costs were reduced by 1,724,184.00 BAM. The largest share in the reduction of costs was a further reduction in the number of employees, namely 32 employees less in the first six months of 2017. In the last two and a half years, the number of employees has been reduced by 348, while at the same time the scope of cargo transportation has increased, indicating an increase in productivity,” Enis Dzafic, the general director of the company, said.

Pursuant to the provisions of the Law on Companies as well as other legal acts, FBiH Railways reports to all the relevant institutions, including the FIA (Federal Information Agency), the results of its operations. They state that they are not obliged to report the stock by law, since it is not a joint-stock company.

(Source: Akta.ba)

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