Rising costs take toll on Lothian Buses

05 August 2009

Lothian Buses has blamed rising costs and a reduction in passenger numbers last year for a fall in profits.

The bus company – owned by East Lothian, Midlothian, West Lothian and Edinburgh city councils – reported a loss of £800,000 last year, compared with a profit of £5.9M in 2007.

The company described the results as disappointing, and blamed rising fuel prices, but it said it was confident it could proactively alleviate these pressures this year.

The company’s annual report revealed bus patronage had fallen by 1M journeys per year to 113M. The report said: ‘The group retained a substantial share of the local public transport market. The directors… are confident that the actions implemented early in the new year will improve the group’s profitability in 2009.’

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