Gruia Stoica confident about rail group growth

Grup Feroviar Roman (GFR), the biggest private rail operator, controlled by businessman Gruia Stoica, posted a 10% rise in turnover in the first five months of this year, with the 2010 budget built on a 14% growth, to nearly 115 million euros.

"In the first five months of this year, the company recorded an around 10% turnover growth, and managed to steer clear of the financial crisis by taking the necessary steps at the right time," said businessman Gruia Stoica, owner of the Grampet group, which holds GFR.

Private rail operator GFR ended last year with a 10.3 million-RON (2.5 million-euro) net profit, from 26.2 million RON (7.1 million euros) in the previous year, according to company representatives.

On the freight rail transport market, GFR competes with state-held CFR Marfa, as well as with private companies Servtrans and Unifertrans.

"We have secured the necessary resources to ensure continuity of Grupul Feroviar Roman over the next three to five years by means of contracts which bring 70% of the company's turnover," Gruia Stoica said.