September 7 (SeeNews) - State-owned railway operator Zeleznice Srbije reported a fractional year-on-year gain of 0.1% in its first-half total revenues to 11.3 billion dinars ($174 million/121 million euro) and said it is on track to meet its full-year income target, Serbian media reported.
"We are in a stable condition and expect a mild revenue growth in the third and fourth quarters which would bring the company close to meeting its targets," online news outlet EMportal (www.emportal.rs) quoted the company's director general, Milovan Markovic, as saying over the weekend.
The railway carrier has forecast a 14% annual drop in revenues to 19.3 billion dinars in 2009 on the back of an expected contraction of cargo volumes and cut in state subsidies.
The company's revenues from passenger traffic fell 3.5% on the year to 800 million dinars through June, EMportal said.
Freight traffic generated 3.1 billion dinars in first-half revenue, a hefty drop of 45.2% from a year earlier.
Zeleznice Srbije, which employs 20,100, posted a consolidated net loss of 6.9 billion dinars in 2006, according to the latest audited results available on the company's website.
The company operates 3,800 kilometres of railway tracks, including 1,190 km of electrified lines.
(1 euro=93.3614 Serbian dinars)