French State Railways Back In Black In First Half Of 2004

PARIS (AFP) - The French state-owned railway system was back in the black in the first half of 2004, posting a parent net profit of 43 million euros (52.4 million dollars) after losing 243 million euros in the first half of 2003, La Tribune economic news daily reported.
Operating profit at SNCF rose to 92 million euros versus an operating loss of 276 million euros a year earlier, the newspaper said.
The railway company is due to release its first-half results on Wednesday.
Given the strong first half showing, La Tribune said SNCF should be able to at least affirm if not raise its targets for full-year 2004.
At the group level, SNCF had a net profit of 50 million euros in the first half, reversing a net loss of 318 million euros a year earlier, with operating profit at 87 million euros after a loss of 242 million euros.