Anglian Buses and Konectbus owner targets £100m profit
15:48 18 October 2012
Archant 2011 0
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.