You're reading: UNIAN: Ukrzaliznytsia’s acting CEO expects $7.63 million in net profit in Q1

UNIAN: Ukrzaliznytsia’s acting CEO expects $7.63 million in net profit in Q1

By UNIAN.

Published April 19, 2018 at 9:23 pm

Former Ukrzaliznytsia CEO Yevgen Kravtsov speaks in the railway monopoly’s Kyiv headquarters on Feb. 14, 2018. Kravtsov officially resigned from his post on Jan. 29, after two and a half years at the job, amid bad press over mismanagement and corruption at Ukrzalisnytsia. Ukrzaliznytsia is regularly criticized for its obsolete and non-transparent organization that has allowed corruption to flourish. The dilapidated railway system is in dire need of modernization, experts say, and the government has often said that its modernization is a priority.

Photo by Kostyantyn Chernichkin

State-run Ukrzaliznytsia says it expects its net profit in the first quarter of 2018 will hit Hr 200 million, or $7.63 million.

“Our profitability last year was estimated at Hr 100 million,” the company’s acting CEO Yevhen Kravtsov said at the Ukrainian Infrastructure Forum in Kyiv on April 19.” I can confidently say that the results of the first quarter demonstrate that we will reach Hr 200 million.”