SJ profits from climate change
TT/The Local - [email protected]
Published: 16 Nov, 2007 CET.
Updated: Fri 16 Nov 2007 14:58 CET
Swedish rail service SJ has posted its highest ever third quarter profit on the back of a general increase in train travel.
The company's third quarter profit of 191 million kronor represents a 22 percent increase on the same period last year. Revenue grew by 9 percent to 2 billion kronor ($300 million).
"Behind our success lies an increase in market share and an increase in travel. SJ is now making a major investment to accommodate this powerful expansion," the company said in a statement.
SJ plans to employ 1,000 new employees, raising the total number of workers by 25 percent.
CEO Jan Forsberg believes that climate change fears have caused many people to switch from air to rail travel.
"I wouldn't be surprised if there were no more flights between Stockholm and Gothenburg within five years," he told business website E24.
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The company's third quarter profit of 191 million kronor represents a 22 percent increase on the same period last year. Revenue grew by 9 percent to 2 billion kronor ($300 million).
"Behind our success lies an increase in market share and an increase in travel. SJ is now making a major investment to accommodate this powerful expansion," the company said in a statement.
SJ plans to employ 1,000 new employees, raising the total number of workers by 25 percent.
CEO Jan Forsberg believes that climate change fears have caused many people to switch from air to rail travel.
"I wouldn't be surprised if there were no more flights between Stockholm and Gothenburg within five years," he told business website E24.
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