CFR expects profit this year

The National Railway Company (CFR) will try to improve its financial situation this year, by posting a gross profit estimated to be around 14.4 million RON, with estimated losses of 330.1 million RON (100 million euros) in 2006. The profit is to be distributed to each branch, under the company’s consolidated spending and revenue budget for 2007. The sum of the company’s total revenues and financial sources is estimated at 2.829 billion RON for this year, 1.021 billion RON more than last year, with expenses of 1.760 billion RON, up 48.6 million RON on 2006. CFR ‘s estimate on revenues derived from already sold production is optimistic (312.7 million RON, 108.5 million RON more than in 2006) and from operation subsidies (75 million RON, a twofold increase against last year). The manager of CFR will be better remunerated than in 2006, with additional sums being allocated for employees, as well. The manager will therefore earn 140,000 RON (41,000 euros), around 15% more than in 2006, whilst the average monthly salary per employee is estimated to be 1,643 RON (483 euros), against last year’s 1,508 RON.