Romanian state-owned railways company CFR SA diminished its losses by 55 percent in the first nine months of this year, to EUR 62.2 million, compared to the EUR 138 million posted in the same period last year. Also, the company’s expenses went down by 24.4 percent between January-September 2011 compared to the same period in 2010.

CFR SA’s turnover in the third quarter was with 6.44 percent higher than the one posetd in the same period last year.

Established in 1998, CFR SA manages and maintains Romania’s railways infrastructure.

Irina Popescu, irina.popescu@romania-insider.com

(photo source: CFR)