DPP reports after-tax profit of CZK 1.53bn

Published: 11.04.2019 Related countries:  Czech Republic Czech Republic

The Prague Public Transport Company (DPP) posted after-tax profit .

 

The Prague Public Transport Company (DPP) posted after-tax profit of CZK 1.53bn. The result is CZK 200m lower than the adequate profit claimed by the owner. The decline in profit may be attributed primarily to higher costs. DPP’s economic director Peter Hlaváč has stated that wage costs grew substantially in the monitored period, primarily by the operating staff. Electricity and fuel prices increased as well, as did vehicle fleet maintenance costs. CEO Petr Witowski has stated that in addition to excessive bureaucratic processes, it is necessary to focus on cost reduction, e.g. by limiting duplicate connections or reducing their redundant capacity.

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