02.10.15
Passenger revenue up 7% year-on-year, highest ever quarterly figure
Passenger revenue collected in the first quarter of 2015-16 was the highest recorded figure since this was first logged in 2002-3, representing an almost 7% increase compared to the same time last year.
Figures released by the Office of Rail and Road (ORR) found that the revenue for this financial year’s first quarter totalled £2.3bn – which, if maintained, will see this year beat last year’s record, itself up 7.4% on 2013-14. Although the growth rate in 2011-12 was higher at 9.2%, in absolute terms last financial year was still a higher figure.
First quarter of 2015-16
The London and South East sector accounted for most passenger journeys (70% of all those in Great Britain), bringing in just over half of the total passenger revenue during the first quarter. Cash raised by this sector rose by almost 7% when compared to the same quarter last year.
This financial growth was consistent throughout all ticket types, with revenue from ordinary tickets generating 6.5% more money compared to the same quarter in 2014-15 – a total of £1.7bn. Revenue from anytime/peak fares saw the highest quarter-on-quarter increase (9.2%) of all ordinary ticket types.
Income from journeys made on season tickets also saw an upsurge of 6.6% compared to the first quarter last year, generating £535m.
And profit growth was consistent throughout all types of services, with long-distance and regional operators all experiencing a rise in revenue – all of which were, individually, the highest recorded profits generated since 2002-3.
In regional services specifically, the profit growth of almost 6% was mostly explained by anytime/peak ticket sales soaring by almost 11% compared to the first quarter of last year.
Similarly, revenue raised by non-franchised operators rocketed this quarter by almost 18%, a record-high since 2009-10, when the time series began. The ORR said this is likely to be a direct result of the “increasing passenger journeys and kilometres the non-franchised sector has seen over time”.
And the revenue of franchised operators equated to almost 14.4 pence per passenger kilometre, or £5.48 per journey in the first quarter of 2015-16 – an increase of 3.3% and 1.8% respectively compared to the same quarter last year.
Passenger kilometres
Overall, the railway network flourished during this first quarter, with passenger kilometres also increasing across all three franchised sectors and the non-franchised operators by 3.3%. This was primarily expressive in the London and South East Sector, which saw a growth of 4.3%.
Franchised passenger kilometres across all ticket types were at their highest compared to any other first quarter since the time series began in 2002-3.
This follows a positive performance in 2014-15, when passenger kilometres were the highest recorded overall – an increase of 4.5% on the previous year and almost 60% compared to 2002-3.