Lithuanian Railways ups revenue 3.6 pct to EUR 114 mln

VILNIUS – Lithuania's state-run railway company Lietuvos Gelezinkeliai (Lithuanian Railways) increased passenger and freight numbers in the first quarter of this year.

The company posted 114.1 million euros in the group's preliminary revenue, up 3.6 percent from the same period last year.

"We reached record results last year. (…) And we are also starting this year with growth tendencies showing that Lietuvos Gelezinkeliai has no plans to stop and will continue pursuing ambitions goals," Mantas Bartuska, CEO at Lietuvos Gelezinkeliai, was quoted as saying in a statement.

Freight volumes rose almost 3 percent to 13.6 million tons in the first quarter, and passenger numbers increased 22 percent to 1.303 million.

Last year, Lietuvos Gelezinkeliai posted 495.8 million euros in revenue, up 10.4 percent year-on-year, and its net profit dubled to 54.8 million euros. This year, the company plans to pay record dividends of 43 million euros to the state.