FirstGroup rail profits hit record level

U.K. – FirstGroup, the biggest train operator in the country, unveiled a 23 per cent increase in profits yesterday from its rail franchises on the back of rising fares and passenger travel.

The improvement in the performance of the rail division helped First to increase group profits for the year to 31 March from

First defended the soaring profits at a time of above-inflation rises in rail fares by maintaining that most of the increase in revenues came from higher traffic levels.

The company carries 250 million passengers a year and said volumes on its TransPennine route alone rose 6.5 per cent last year.

The Independent