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Arriva pre-tax profits 'up by over 40%'

Arriva pre-tax profits 'up by over 40%'
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The Arriva transport group has reported a surge in pre-tax profits of more than 40 per cent.

According to the Financial Times, the group delivers over one billion passenger journeys throughout Europe every year.

Profits increased from £47.3 million to £66.3 million, with earnings per shares rising from 18.1p to 23.8p.

Chief executive David Martin commented: "Our consistent performance shows the benefits of a broadly based strategy."

He added that Arriva's portfolio now includes 12 countries, meaning the group was well positioned to develop its existing businesses further.

In the six months to June, the group experienced a 59 per cent increase in revenue and a 50 per cent rise in income from mainland Europe.

The firm's rail arm saw a threefold rise in business.

Arriva was founded in 1938 as a second-hand motorcycle shop in Sunderland.

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