05.11.10
Directly Operated Railways publishes first annual report
Directly Operated Railways Limited, the company established in July 2009, has published its first annual report.
Turnover for the nine months to 31 March 2010 amounted to £233.8 million, operating expenditure in the period amounted to £232.3 million and generated an operating profit before Department of Transport service payments and taxation of £52.7 million.
Elaine Holt, Chairman and Chief Executive of Directly Operated Railways, and Chairman of East Coast, said: “Our financial performance in this first period of operations has been strong – and we are exceeding our targets.
“As a consequence of our good fiscal management of the business we’ve subsequently been able to pay back more money to the Government through higher ‘premia’ payments. We created early cash-flow – and the business has now become self-funding.”
(Image copyright Dan Sellars)
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