Georgian Railway completed the first six months of 2022 with a record profit of 161 million GEL
The Georgian Railway maintains the upward trend. The company completed the first half of 2022 with a record profit of 161 million GEL. Operating revenues increased by 12% and amounted to 311 million GEL.
As for the salaries of employees and other expenses, their total amount is 97 million GEL. As you know, in the 3rd quarter of 2021, the company increased the wages of more than 12,000 employees, which naturally affected salary expenses, and the average wage was more than 1300 GEL.
Net financial income amounted to 59 million GEL, which was mainly due to a decrease in interest expenses as a result of refinancing in 2021 and the strengthening of the GEL against the dollar.
The liquidity ratio has also improved. Cash on the balance of the organization as of June 30, 2022 amounted to 252 million GEL, which is 68 million GEL more than cash on the balance as of June 30 2021 and 40 million GEL more than cash at the end of 2021.