Kowloon-Canton Railway Sustains Growth in 2001

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Last updated at: (Beijing Time) Wednesday, April 24, 2002

Kowloon-Canton Railway Sustains Growth in 2001

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The Kowloon-Canton Railway Corporation (KCRC) recorded sustained progress and modest growth in 2001, with net profits going up by 6.5 percent to 2,436 million HK dollars (312.3 million U.S. dollars), according to KCRC Wednesday.

Despite the decision to freeze fares for the fourth year in a row, fare revenue grew 1.5 percent to 3,963 million HK dollars (508.1 million U.S. dollars) last year. Freight, rental, advertising and other revenue grew 1.1 percent to 834 million HK dollars (106.9 million U.S. dollars).

Operating cost grew 1.9 percent to 2,885 million HK dollars (369.9 million U.S. dollars) in 2001 and operating profit increased by 0.6 percent to 1,912 million HK dollars (245.1 million U.S. dollars).

As a result of increased expenditure, the operating margin decreased slightly from 40.2 percent in 2000 to 39.9 percent during the year.

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