Ljubljana, 26 August (STA) - Slovenia's state-owned motorway company DARS has reported a 438% rise in half-year profit for 2014, which it attributed to an increase in revenue from heavy vehicle traffic and cost-cutting.
The net profit for the first six months of the year stood at EUR 29.7m on revenues of EUR 168.9m, which is a rise of 19% over the same period last year and 9% more than planned.
The company said the strong financials were a result of the cost-cutting undertaken and a rise in revenues from growth in heavy vehicle traffic and the sale of toll stickers for personal vehicles and vans.
The news comes after new stickers for vans were introduced separately of personal vehicles and at twice the price at the beginning of the year. The price of the annual toll sticker for personal vehicles was also raised to EUR 110.
It said cost cutting was achieved by restructuring operations to mirror market-oriented firms and consolidation and optimisation of operations.
Costs of materials were down 31% in the first six months compared to last year. The biggest drops were seen in fuel and electricity costs.
Costs of material, services and labour were the lowest on a per kilometre basis of any similar companies in the region, the company boasted in Tuesday's statement.