NORTHERN Rail recorded pre-tax profits of £38.53m last year after growing revenue from passengers by £16.9m.

Turnover fell 2% to £570.6m as the subsidy it receives from the Department for Transport was cut by £34.2m.

Northern Rail is a joint venture owned by Serco and Abellio Transport Holdings which operates rail services across Yorkshire, the North West and the North East.

Ian Bevan, managing director for Northern Rail, said: "The Northern Rail franchise was awarded in 2004 as a &lsqu......for the full story register now for free or login below...