Mozambique: Rail company posts profit of US$11.7 million in first 11 months of 2008

30 December 2008

Maputo, Mozambique, 30 Dec – Mozambican state rail and port company, Portos e Caminhos de Ferro de Moçambique (CFM), announced it had posted a profit for the period between Janauary and November 2008 of some US$11.7 million (293 million meticais), according to figures published Tuesday in Maputo.

The chairman of the board of directors of CFM, Rui Fonseca, said that the financial results posted so far showed that turnover totalled 2.2 billion meticais, whilst operating costs totalled 1.9 billion meticais.

Fonseca also noted that from January to October of 2008, the company saw a positive performance in terms of its port business, having posted growth of 4.9 percent on handling 9.7 million metric tonnes of cargo, as compared with 9.2 million metric tonnes the previous year.

Cargo handling on the railway lines linking Maputo to South Africa, Swaziland and Zimbabwe, rose 13.8 percent to total 3.7 million tonnes as compared to 3.3 million tonnes in the same period of 2007.

The remaining two railways (Beira-Zimbabwe and Nacala-Malawi) leased to private companies processed just 470,000 tonnes of cargo. (macauhub)