First Group claimed its rail division has delivered its best ever year of growth when it announced its results for the year to 31 March.
The group announced overall revenue up by 22.4 per cent to £3.7bn, and adjusted pre-tax profit rose 10. 9 per cent to £195.8m from £176.4m.
Revenue in the Group's rail division increased by 56.6 per cent to £1.8bn compared to £1.2bn the year before and operating profit increased by 36.7 per cent to £108.8m compared to £79.6m.
Group chief executive Moir Lockhead said the results demonstrated the strength of the business, which had to absorb £37.1m as a result of increased fuel costs.
“Our UK Rail division continues to go from strength to strength,” he said. “This year we commenced operation of two new enlarged franchises. We have made significant investment across all of our rail businesses to deliver improvements in rolling stock, capacity and services for passengers.
“Demand for our services continues to accelerate with passenger and income growth across all of our rail operations. We are delighted to pre-qualify for a further three franchises: East Midlands, New Cross Country and InterCity East Coast and await the outcome later this year.”
First Group operates First Great Western, First Capital Connect, First TransPennine Express, First ScotRail and Hull Trains.
