Newspaper article The Evening Standard (London, England)

Rail-Fare Rises Boost Go-Ahead Payback

Newspaper article The Evening Standard (London, England)

Rail-Fare Rises Boost Go-Ahead Payback

Article excerpt

INFLATION-BUSTING fare rises on Southern Railways have led to the Victoria based train company sharply increasing its excess profit payments to the Government, it emerged today.

Go-Ahead, the trains and buses company that runs Southern Railways and the neighbouring Southeastern network, said its commuter trains business from the south of the capital are booming, with more passengers squeezing into carriages despite higher ticket prices.

"The performance of the rail business have been particularly strong," the company said in a statement to the Stock Exchange that signalled it expects higher profits this year than City analysts had been pencilling in. "We have been benefiting from continuing high levels of passenger volume growth in Southern and Southeastern, up 9.6% and 6.4% respectively in the three months to 31 March compared with the same trading quarter last year, despite fare increases in January," it added.

Southeastern fares went up by 6.3% while Southern's ticket prices were raised 4. …

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