Transport firm Arriva in top gear
NORTH East transport giant Arriva says 2010 has started well as it prepares for life under new ownership.
At its Annual General Meeting in Durham yesterday the company said it had seen passenger revenue growth in its UK Trains division of 8.9% in the 15 weeks to April 25.
It has also seen like-for-like revenues in its bus division increase by 2.7% over the same period.
Although the Sunderland-based company said it had seen a 5.3% decline in revenue in its Mainland Europe division in the first three months of the year, mainly due to the ending of a Dutch contract.
At the end of April Arriva’s board announced it had agreed to a £1.59bn takeover offer from German transport group Deutsche Bahn with the deal expected to be completed in the coming weeks.
Arriva, which employs 150 staff at its Sunderland headquarters, employs more than 44,000 staff, including around 2,000 in the North East. It made a £121.7m profit last year and had a £3.1bn turnover.