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Title: SWT owner in revenue surge Post by: Chris from Nailsea on November 04, 2010, 00:06:44 From the Portsmouth News (http://www.portsmouth.co.uk/biz/SWT-owner-in-revenue-surge.6611719.jp):
Quote South West Trains' owner has reported a surge in revenue from its rail operations. The Stagecoach Group, whose SWT business runs most of the train services and stations between Portsmouth and London, saw a growth of 6.5 per cent in its train business. The results, posted yesterday, cover the period between April 30 and October 17. The firm's statement also said that it's bus earnings were up by 2.3 per cent. But RMT general secretary Bob Crow hit at out the firm in the wake of the results, saying it only proves more staff and investment are needed on its rail transport network. 'The news that Stagecoach have seen a big increase in their rail operation revenues will come as another kick in the teeth to passengers. They are being told that they will be hit with double-digit fare increases in order to protect the profits of these private train operators,' he said. Title: Re: SWT owner in revenue surge Post by: paul7575 on November 04, 2010, 11:18:52 In SWT's case they probably need their revenue to increase to help meet the recent 7% rise in staff salaries, as agreed with Bob Crow amongst others. He can't have it both ways, surely.
In any case, recovery following a previous slump in passenger numbers is just keeping pace with previous predictions, not a 'surge'... Paul This page is printed from the "Coffee Shop" forum at http://gwr.passenger.chat which is provided by a customer of Great Western Railway. Views expressed are those of the individual posters concerned. Visit www.gwr.com for the official Great Western Railway website. Please contact the administrators of this site if you feel that content provided contravenes our posting rules ( see http://railcustomer.info/1761 ). The forum is hosted by Well House Consultants - http://www.wellho.net |