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Anglian Buses and Konectbus owner targets £100m profit

PUBLISHED: 15:48 18 October 2012

Anglian Buses customers surprising their much loved driver Martin Harvey with a heartfelt thank you for the wonderful service and friendship he has provided on his retirement at the stop in Rockland St Mary. Photo: Steve Adams

Anglian Buses customers surprising their much loved driver Martin Harvey with a heartfelt thank you for the wonderful service and friendship he has provided on his retirement at the stop in Rockland St Mary. Photo: Steve Adams

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Transport group Go-Ahead said today it wants to make profits of £100m a year from running bus services in the UK.

The group, which runs the Konectbus routes in Norwich, Swaffham, Dereham, Watton and Wymondham, also acquired Beccles-based Anglian Buses in April.

Anglain Buses runs services in the Suffolk coast area, Norwich, Great Yarmouth and Lowestoft.

The business currently generates an annual return of £70m from a fleet of around 4,600 buses carrying some 1.7m passengers a day.

It said the new target would be achieved by the 2015/16 financial year through “high quality services, innovation and marketing and cost efficiency”.

In a meeting with City investors, chief executive David Brown said he believed there was “significant potential” to grow the bus part of the business.

It comes as Go-Ahead faces up to uncertainty in its rail operation following the Department for Transport’s decision to postpone current rail franchise competitions in the wake of the west coast mainline debacle.

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