West Coast services help to bolster Virgin Rail
Half year profits have fallen at Virgin Rail Group despite a strong performance from the West Coast Mainline service operated by the company on behalf of the Department for Transport.
In the six months to October 28, 2017, the service saw revenues grow to £288.5m (H1 2016: £280.1m), however, profit after tax declined from £13.9m to £12.1m.
Stagecoach Group, which owns a 49% stake in VRG, said the reduction in profit reflected a lower rate of revenue growth being more than offset by cost increases and the payments it has to m... You can carry on reading TheBusinessDesk.com for free, but you have reached the maximum number of pages an unregistered user can view. To register for an account, click here or login below...
