//
The transport group, which has posted a profit of £121.7 million for the 12 months to December 31st, said that the cost of obtaining fuel for its network of bus and train services climbed by 60 per cent over the year.
However, the fall did not correspond to a dip in the firm's share price, which was up 2.08 per cent to 541p at 09:36 GMT during the morning session of stock market trading in London today (March 3rd).
The company stated it has implemented a cost-cutting programme in order to help offset the impact of higher fuel prices, resulting in £15 million in savings across its train network and a 3.4 per cent reduction in mileage covered by its buses.
David Martin, chief executive, remarked that this is set to continue in the future, adding the company has recorded "resilient" results given the difficult trading conditions it experienced in 2009.
Posted by Greg Secker
