Railways reports improved income for first half

Swiss Federal Railways has reported a net profit of SFr104.7 million ($94.43 million) for the first half year, up 13 per cent compared with the same period last year.

In a statement on Wednesday, the state-owned company said the figure had been boosted by a profit of SFr101.8 million in the passenger division, up 12 per cent on last year.

The number of passengers increased by 5.8 per cent during the period to 158.1 million. Despite the increase, the railways showed a deficit of SFr2 million on its Euro 2008 activities.

Improvements were made in the cargo division but it is still not out of the red after years of losses.

Cargo posted a net loss of SFr8.2 million compared with SFr35.5 million in the first half of 2007. The company said it was still looking for a partner for its cargo division, particularly for its international business.

In its outlook, the company said it expected further growth in its passenger division and an improved net profit for the year as a whole.

It added there were no plans to increase passenger rail fares when the winter timetable comes into force in December.