Net profit of KazTemirTrans increased by $10.7 million in 2011

Net profit of KazTemirTrans, a branch of Kazakhstan Temir Zholy (national railroad company), increased by 1.6 billion tenge ($10.7 million) in 2011 (compared to 2010) and made 14.8 billion tenge ($98.7 million), Tengrinews.kz reports citing the press-service of Kazakhstan Temir Zholy. “The largest share of the profits (76 percent) was generated by cargo transportation. The remaining part (24 percent) is made of the profits from shipping and other operations,” the message states. The assets of KazTemirTrans grew from 355.6 billion tenge ($2.4 billion) in 2010 to 392.3 billion tenge ($2.6 billion) in 2011. The company’s equity capital increased by 12.9 billion tenge ($86 million) and made 109.7 billion tenge ($731 million). Capital expenditures made 99.8 billion tenge ($665 million). This money was spent on procurement of new freight wagons, capital repairs and purchase of the technological equipment for car-maintenance depots. The total of 20,847 wagons were repaired in 2011. The company purchased 7,059 freight wagons as part of the project to upgrade its rolling stock in 2011.