Swedish open access operator MTR Express said its revenues more than doubled last year, bringing the company closer to profitability.
MTR Express, a subsidiary of MTR Corporation, reported revenues of SEK 190 million compared to SEK 85 million in 2015.
The company operates an intercity service between Stockholm and Gothenburg in competition with the state-owned operator SJ.
Despite the significant rise in revenue, MTR Express, which launched the service in March 2015, recorded a loss of SEK 118 million in 2016 as a result of the associated high fixed costs.
The outlook is positive, said MTR. The company is ‘approaching an operating profit’ and further revenue growth is predicted in 2017.