Recent figures show steady signs of recovery for Nottingham tram network

Recent figures have shown Nottingham Express Transit (NET) is showing signs of steady recovery, with rising passenger numbers and reduced losses indicating ongoing improvements across the network.
According to annual accounts released by Tramlink Nottingham Limited, the NET operator, passenger journeys increased to 15.5m in the year ending March 31, 2024, up from 14.4m the previous year.
Gross profit rose to £8.24m from £7.65m, reflecting stronger performance despite the challenging post-COVID landscape.
Losses before tax and interest fell significantly, from £57.1m last year to £26.3m, aligning with projections.
The improvements follow a financial restructuring in partnership with the Department for Transport and Nottingham City Council, putting the network in a stable position for continued progress into 2025.
Tim Hesketh, CEO of Tramlink said: “We were confident that last year’s financial restructuring project would give our network the security we needed to concentrate on making investments towards improvements to our service, and our most recent financial figures are an indicator of its success. After a challenging few years, it’s promising to see that we’re now in a much stronger position, and we’d like to thank the City Council and Department of Transport for all their support.
“We’re always looking at ways we can improve the service we offer our customers and this year saw us double-down on those efforts. We invested in new technology, made key updates to our ticket systems and strengthened our ties with the local police force, which all in turn ensures we can provide our customers with the very best service.
“Though the country remains in a challenging economic climate, we have remained committed to ensuring value for money for the many tram users who use the network each day. As such, this year, we’ve worked hard to ensure that any cost increases incurred due to rising inflation and energy costs are kept to a minimum. That’s commitment that will remain into 2025 too.”