Earnings rise is just the ticket for Sunderland transport giant Arriva
Wearside transport firm Arriva saw pre-tax earnings jump by more than Â£20million last year.
The Doxford International-based firm saw earnings before interest, taxes, depreciation, and amortization rise to E525million from E498million in the 12 months to December 31 2015, rise of 5.4 per cent.
Revenues were up even more sharply, rising from E4.491billion to E4.843billion, a jump of 7.8 per cent.
Chief executive Manfred Rudhart said: “We delivered growth throughout 2015 and continued to invest back into the business.
"Arriva’s proven strategy continues to be successful, as highlighted by another positive year of EBITDA and revenue growth.
"In our UK Trains business we were delighted to be awarded the Northern rail franchise last December. We are ready to begin the contract on April 1 and start our journey to deliver a step-change in quality for customers.
"Our other UK train operating companies have each performed well with high satisfaction scores from customers, Chiltern Railways opening the first new rail line from a British city to London in over 100 years, and national recognition for Arriva Trains Wales, CrossCountry and Chiltern.
"Last week’s announcement from Transport for London that they intend to award the new London Overground contract to Arriva has capped an exciting period for us.
"In UK Bus we have strengthened our senior management team, helping to deliver benefits for customers through meaningful partnerships with local authorities, innovative ticketing solutions, and the latest smartphone technology.
"Across mainland Europe our significant growth has continued and our position in bus and rail markets remains strong. We have made acquisitions in eastern Europe and Italy, while contract wins and successful re-tenders have bolstered our position in countries such as the Netherlands and Denmark.
"Overall we can look back on a positive 2015 which provided further foundations for us to become a bigger, better Arriva in the future. We are well positioned as a respected mobility partner that is prepared to innovate, enter new and liberalising markets, and invest for its people, its partners, and its customers.”