{"id":110586,"date":"2024-08-19T18:53:09","date_gmt":"2024-08-19T08:53:09","guid":{"rendered":"https:\/\/www.railfreight.com\/?p=55433"},"modified":"2024-08-19T18:53:09","modified_gmt":"2024-08-19T08:53:09","slug":"green-cargo-halves-organic-operating-loss-in-q2-worsens-profit-after-tax","status":"publish","type":"post","link":"https:\/\/www.vibewire.com.au\/?p=110586","title":{"rendered":"Green Cargo halves organic operating loss in Q2, worsens profit after tax"},"content":{"rendered":"

Swedish rail freight operator Green Cargo has halved its organic operating losses in the second quarter of 2024. Even if the company \u201cstill has a long way to go\u201d, it credits employee commitment and external factors for the improvement. At the same time, profits after tax fell by 8 million Swedish crowns.<\/strong>
\n<\/span>In the second quarter of 2024, Green Cargo made an organic operating profit of minus 59 million Swedish crowns (5,1 million euros), it says in a press release. This is an improvement of last year\u2019s second quarterly result. During that period, the company lost double that amount at 122 million Swedish crowns. Green Cargo points out that it achieved the improvement despite restructuring costs burdening its results.<\/p>\n

However, the company\u2019s profit after tax did not show improvement in comparison with the second quarter of 2023. The profit was announced at negative 16 million Swedish crowns (1,39 million euros). In 2023, it amounted to minus 8 million Swedish crowns (700 thousand euros). Whereas organic operating profits improved twofold, profits after tax showed a similar result in the opposite direction.<\/p>\n