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Athens metro: Deficit decrease by 50% for 2010

Δημοσίευση 14 Ιανουαρίου 2011, 10:57 / Ανανεώθηκε 27 Ιουνίου 2013, 14:55
Athens metro: Deficit decrease  by 50% for 2010
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The Attiko metro company (AMEL) on Thursday said it projects to cut its deficit by almost 50 pct for 2010, to less than 10 million euros, compared with a shortfall of 19 million euros in 2009.

The Attiko metro company (AMEL) on Thursday said it projects to cut its deficit by almost 50 pct for 2010, to less than 10 million euros, compared with a shortfall of 19 million euros in 2009.

The state-run company attributed the decline to an improvement of all operations, particularly in the second half of the year, with payroll costs falling below 65 million euros, or 69 pct of revenues in 2010, from 72.4 million euros or 77 pct of revenues in 2009.

Payroll costs fell below 64 pct of revenues in the fourth quarter of 2010.

AMEL said operating spending, excluding personnel, would be cut by around 4.0 pct to 35.5 million euros in 2010, from 37 million euros in 2009.

Company officials said they expected the positive trend to continue at a more rapid pace this year, resulting to an improvement in financial figures -- meaning a decrease in shortfalls.