JSC "Georgian Railway" has published the financial indicators of the first half of 2020. According to the document, the consolidated revenues of the group increased by 6.4% to 245 million GEL during January-June, but the railway expenses were increased further, due to which the company ended the first quarter of the year with a loss of 31.4 million GEL.
Georgian Railway transported 5.5 million cargo in the same period, which was 0.4 million tons or 7.8% more comparing to 2019.
Like the first half of 2020, H1 of 2019 was unprofitable for the company. In the same period of the last year, the railway loss amounted to 41.4 million GEL.
According to the financial report of the Georgian Railway, a significant source of cost growth in 2020 was the loss gained from the exchange rate difference. During the period, the company received a loss of GEL 85.1 million due to the exchange rate difference.
See all the news
Franco Frattini - Georgia, straying from the rule of law
Letter to the Newsweek Editor: 'Russia Determined to Wield Power in Georgia'
Caspiannews: Georgia’s Actions to Seize Foreign Company Disrupt Telecommunications Corridor Between Europe & Asia
Turkish cable manufacturer Koc Kablo has opened its first factory in Georgia
TBC Bank announces management change
Oil prices fall further on virus fears, U.S. crude stock build
Update on Shuakhevi HPP
Turkey to open doors to 31 countries for health tourism
Statement by Andrius Kubilius on the EU assistance for Georgia
Wine sales have increased 5 times in the UK - Georgian-British startup
Visa informed banks of the mechanism to process transactions with expired cards
Russian Church, which priest tested positive for coronavirus is closed for several days
S&P: Georgia Heads Toward Recession
Gurian Tea "Gamarjoba" will Appear on the Market from September
Coronavirus: Boris Johnson moved to intensive care
Georgian economy grows 2.2% in February
First-Stage Land Usage Permit for APM Terminals Poti
www.stopcov.ge is accessible in minority languages
TBC Bank and OPEC Fund sign a $50 million trade finance loan agreement
How will Nenskra HPP Reduce the Electricity Import?