East Coast rail firm makes £1.2m profit for Government

The state-owned East Coast rail company today reported a £1.2 million profit in its first year since being nationalised.

Directly Operated Railways, which runs the London to Scotland rail route for the Government, said turnover for the nine months to March 31 was £233.8 million. Passenger numbers were up 3%.

DOR said its turnaround of the business was under way but warned that it was still fixing problems inherited when it took over the franchise from National Express East Coast.

The firm said that when it took the business in November last year staff morale was low, investment had ceased and key engineering skills had been “allowed to evaporate”.

It intends to hand back the company to private ownership by the end of 2012.

source: This is London