SWT owner in revenue surge

[whole diary]

[Chris from Nailsea]

From the Portsmouth News:

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^▸ (National Union of Rail, Maritime & Transport Workers) 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.

[paul7575]

In SWT^▸ (South West Trains)'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