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Article: pounds 11.5m profits are on time for Arriva Trains.(Business)
- Article from:
- Daily Post (Liverpool, England)
- Article date:
- March 8, 2002
CopyrightCOPYRIGHT 2002 MGN Ltd. 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: Barry Turnbull Chief Business Reporter
TROUBLED Arriva Trains made an operating profit of pounds 11.5m last year after a revision of financial terms with the Strategic Rail Authority.
The division, which includes Merseyrail and Arriva Trains Northern, is currently embroiled in a dispute with guards over pay differentials.
It said it faced a difficult series of problems with the two franchises that had to be turned around from a loss-making position.
Chief executive Bob Davies explained:
"The UK rail industry has experienced a very difficult year and in our case issues have been compounded by the need to turnaround ...