Rail strikes in June have been attributed to a fall in SNCF’s profits in the first half of 2014.
France’s national rail operator saw operating profits fall by €229 million, of which SNCF believes €170 million was lost during June’s industrial action and the remainder the result of rising track access charges.
Net profit stood at €224, down from €865 million in 2013. However, 2013’s result was boosted by the one off write-back of  SNCF Infra assets.
SNCF’s group turnover rose by 0.8 per cent to €16 billion. Keolis experienced the most substantial growth, with revenue increasing nationally by 6.8 per cent and internationally by 14 per cent.
However, TGV and intercity services continued to struggle, recording a 3.1 per cent fall in revenue.
Guillaume Pepy, president of SNCF, said: “While the economy is still sluggish in France, SNCF shows its ability to overcome to maintain its margins through constant efforts to reduce costs.”
