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Article: Bus firm profits up 50% - and still the fares rise.
- Article from:
- The Evening Standard (London, England)
- Article date:
- September 22, 2004
CopyrightCOPYRIGHT 2004 Solo Syndication Limited. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: ROSS LYDALL
THE private firms running London's buses have seen their profits soar by more than 50 per cent, it can be revealed today.
Figures show their profits have shot up to [pounds sterling]67.5 million before tax, some [pounds sterling]23million more than the previous year.
The massive boost was disclosed as a row broke out over Mayor Ken Livingstone's announcement of an inflation-busting rise in Tube and bus fares from January.
Bus fares will jump 20 per cent - up 20p to [pounds sterling]1.20 - alongside widespread increases on Tube travel. Daily Travelcard users will be the hardest hit, with increases of up to 13 per ...