Anglian Buses and Konectbus owner targets �100m profit
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'.
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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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