New services help Direct Rail boost sales

DIRECT Rail Services, the government-owned nuclear freight specialist, increased sales and earnings last year.

The Carlisle-based firm saw revenue rise 16% to £50.2m in the year to March 31.

Pre-tax profits jumped from £1.8m to £3.1m.

A subsidiary of the Nuclear Decommissioning Authority (NDA), Direct Rail transports spent fuel from nuclear power stations and returns reprocessed fuel.

It also prodvides logistics support for contractors maintaining the rail network and works with other logistics group to move goods between rail hubs.

In newly-filed accounts the business said it had successfully expanded its customer base and moved into new business sectors.

“[The company] has exceeded target profitability through the enormous efforts of all staff who have contributed in terms of reducing costs and increasing revenues.”

The highest paid executive at the company, which has 290 staff, received a package worth £196,000, up 10%.