Ukrainian Railways return to profit in 2017 amid reforms

KIEV, April 16 (Xinhua) -- Ukrainian Railways, the country's state railway operator, said on Monday it returned to profit in 2017 after three consecutive years of decline by implementing reforms.

The Ukrainian Railways ended 2017 with a profit of 3.8 million U.S. dollars, while in 2016 it recorded a loss of 279 million dollars, said a statement on the company's website.

The capital investments into the Ukrainian Railways' infrastructure rose by 58 percent last year to about 417 million dollars, it said.

The company set a target to increase its profit by more than seven-fold this year to 26.8 million dollars.

The Ukrainian Railways operates a railway network of about 22,000 kilometers, accounting for about 50 percent of the country's passenger traffic and 82 percent of the cargo transportation. Enditem