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... For the full story register now for free or login below...
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