Your MONEY: Union rails against train profits.
Byline: Edited by CLINTON MANNINGNATIONAL Express sparked a row by announcing plans to axe 100 jobs despite making bumper profits.
The bus and train company made pounds 79million - an 18 per cent leap - in the first half of this year. It also boosted the dividend pay-out to shareholders by 7.5 per cent. But bosses still wanted to cut costs by pounds 11m. Profits at the train division, including Silverlink, Central Trains, Gatwick Express and c2c, leapt 43 per cent to pounds 28.7m despite a pounds 10m rise in energy costs and pounds 7.5m on failed bids for new train franchises.
RMT leader Bob Crow said: "Privateers like NatEx are feathering shareholders' nests at the expense of passengers and our members, converting subsidies from the taxpayer and over-the-odds fare increases into fat profits."
 Printer friendly
 Cite/link
 Email
 Feedback
| |
| Title Annotation: | Business |
|---|---|
| Publication: | The Mirror (London, England) |
| Date: | Jul 27, 2007 |
| Words: | 136 |
| Previous Article: | Your MONEY: Not so 'Soon.. |
| Next Article: | No Captiva audience; BUT IT'S GOOD IN A FLOOD. |