Vietnam Railways sees smaller losses in H1

By Phuong Dong   September 21, 2022 | 12:11 am PT
Vietnam Railways sees smaller losses in H1
A train conductor steps off a car in Lao Cai Province, northern Vietnam. Photo by VnExpress/Giang Huy
State-owned Vietnam Railways Corporation racked up after-tax losses of VND30 billion (nearly $1.3 million) in H1, down from losses of VND100 billion in the same period last year.

The corporation said it would suffer after-tax losses of VND570 billion in 2022, compared with losses of VND1.327 trillion in 2020 and of VND565 billion in 2021.

Vietnam Railways’ financial statements showed that its revenues in the first half grew 36% on-year to nearly VND1.045 trillion. It has targeted revenues of VND1.62 trillion in the whole year.

By the end of June, Vietnam Railways had assets of over VND15 trillion, up VND200 billion against the beginning of this year.

The corporation currently runs a debt of nearly VND2.23 trillion, with undistributed loss exceeding VND1.85 trillion.

It is gradually shifting focus from passenger to freight transport, promoting routes linking with international equivalents.

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