Revenue up for WCML operator Virgin Rail Group

TRAIN operator Virgin Rail Group has seen a large rise in like-for-like revenue growth.

The company, which operates the West Coast Main Line service for the Department for Transport, saw growth of 6.7% in the 40 weeks to February 1, 2015, latest figures have shown.

Transport group Stagecoach is a minority shareholder (49%) in the group. In a trading update the company said that since its half year results in October there had been no material change to its forecast adjusted earnings per share for the year ending April 30, 2015.

On the performance of VRG, it said: “Trading to date under Virgin Rail Group’s West Coast Trains franchise remains strong, and under the terms of the franchise contract, UK taxpayers are benefitting from this performance as part of a profit sharing agreement with the Department for Transport.”

Stagecoach, which also operates a number of UK bus and rail services, said that although there were a number of challenges to growing profit in the year ending April 30, 2015, overall current trading was satisfactory and it remained on track to meet expectations for the year.