Interfax cited Mr Vadim Mikhailov vice president of RZD as saying that OJSC Russian Railways reduced its IFRS net profit in 2008 by 47% to RUB 76.4 billion.

RZD sales revenue last year dropped by 18.3% to RUB 1.2 trillion.

The company operational expenditures in 2008 went up by 3% to RUB 1.088 trillion. Pretax profit dropped by 42% to RUB 125.08 billion while EBITDA came to RUB 218.778 billion.

It was earlier reported that RZD lowered its cargo transport in 2008 by 1.2% in comparison with 2007 to 1.476 billion tonnes.

(Sourced from Interfax)