Metrovias narrows 9mth net loss

Argentine public transport company Metrovias posted a 3mn-peso (US$1mn) net loss in the first nine months, compared to a 20.1mn-peso net loss in the same period last year, Metrovias said in a statement to the country's securities regulator, the CNV. The improved result was due to increased efficiency through procedural and cost adjustments, according to Metrovias, which operates Buenos Aires' subway system. For the period, the company posted a 4.19mn-peso operating loss, compared to an 18.7mn-peso operating loss in the same period last year, while revenue was down 26% to 114mn pesos. Metrovias is a division of local infrastructure and services company Clisa, which in turn is the infrastructure holding for Argentina's Grupo Roggio.