Profits rise for London Midland's group
The London Midland rail service operator Go-Ahead Group saw pre-tax profits rise by 7.4 per cent to £52.1 million in the six months to December 26.
Group revenue was ahead 6.8 per cent at £1.66 billion and chief executive David Brown said it had been a solid set of results.
It has been given the direct award contract to continue to run London Midland, which serves the Black Country, Staffordshire and north Worcesterhire, from April to October 2017.
Mr Brown said the franchise had performed well.
"Our passengers are seeing the benefits of the improvements we have made in this franchise over recent years thus demonstrating that, with our management expertise and commitment, we can deliver significantly improved performance and passenger satisfaction," he added.
Go-Ahead said it was working with Network Rail to minimise disruption to rail passengers during the £6.5bnn Thameslink Programme in London.
Mr Brown said the bus division performed well with both regional revenue growth and passenger growth stronger in the second quarter.
"We are proud of our high levels of regional bus customer satisfaction, which remain the best in the sector at 90 per cent," he added.
Overseas, Go-Ahead was successful in bidding for a 25-route bus contract in Singapore and two German rail contracts.
"Looking ahead to the full year, our expectations remain unchanged," said Mr Brown.