Lothian Buses drive profits up to £9.2m
LOTHIAN Buses are back in profit 12 months after reporting their first operating loss.
New figures show the council-owned company made an operating profit of 9.29 million last year, compared with a loss of 801,000 in 2008.
It also reported an 8.3 per cent rise in turnover to 112 million, despite a 5.3 per cent drop in passengers.
The firm has shed more than 150 jobs, including reducing its complement of drivers from 1,677 to 1,570.
A statement with the accounts says: "The directors are of the opinion that the group remains in a sound position to maintain its role as the major operator of buses and open-top tours in Edinburgh and the Lothians."
City council chiefs recently denied any plans to sell off parts of Lothian Buses to help pay for the Capital's troubled tram project.
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Sunday 27 May 2012
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