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Kazakh state rail firm sees 2013 net profit rise
January 9, 2013 / 11:46 AM / 5 years ago

Kazakh state rail firm sees 2013 net profit rise

ASTANA, Jan 9 (Reuters) - Kazakh state railway monopoly Kazakhstan Temir Zholy (KTZ) expects its net profit to rise to 125.2 billion tenge ($831 million) this year from last year’s estimated 116.7 billion tenge, the company said on Wednesday.

The expected rise is largely due to higher turnover of goods and planned increases in tariffs, a company spokesman said.

In November, KTZ issued an additional $300 million in 30-year eurobonds to supplement an $800 million issue launched in July.

The heavily oversubscribed paper, maturing on July 10, 2042, was priced to pay an annual coupon of 5.55 percent, below the original yield guidance of 5.70 percent.

$1 = 150.70 tenge Reporting by Raushan Nurshayeva; Writing by Dmitry Solovyov; Editing by Mark Potter

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