The Rail Union

Reclaiming Our Industry

ATCU Portsmouth Branch

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ATCU - Portsmouth Branch Meetings		Branch website comming soon
BRANCH ORGANISERS
Branch Secretary - Richard Eastley	Branch Chair - Colin Deere
	Contacts: M: 07835148823 E: colin.deere@hotmail.co.uk
Assistant Secretary - James Sutherland	Assistant Chair - Paul Harman
Auditor 1 - Trevor Appleton	Auditor 2 -
Committee members
R Eastley	C Deere
T Appleton	T Roberts
J Cliff	R Owen

28 August 2008

Transport group Stagecoach has highlighted the pressure on the rail industry after revealing a further deterioration in revenues growth.

The operator of South West Trains and East Midlands Trains said revenues in its UK rail division were up 0.9% in the 12 weeks to the end of last month, compared with growth of 6.2% in its last financial year.
On Thursday, rival operator Arriva said half-year profits at its rail division fell 30% after the economic downturn hit passenger revenues.

The company said its CrossCountry franchise achieved revenues growth of 1.8% in the first half of the year, having admitted it needs growth of 10% this year in order to maintain 2008's level of profits.

In a brief trading update, Stagecoach told investors: "Trading conditions across the group, and at our rail businesses in particular remain challenging and we are experiencing further reductions in the rate of revenue growth."

While Stagecoach said its bus operation benefited from a "robust and flexible" business model, revenues growth of 4.4% was still down on the 8.9% seen for the previous financial year.

At its Virgin Rail joint venture, which operates services on the West Coast mainline, revenues were ahead by 1.7%.

The pressure from the recession has hit South West Trains as City job losses impact on the commuter franchise.