Arriva Cymru, the North Wales bus operator, saw strong revenue growth and improved profits in the year to 31 December 2008, according to its annual accounts. The year saw a £1.1m deal to acquire the assets and bus routes of Llanberis independent operator KMP, a deal completed in June 2008.
Revenue and costs at the 274 vehicle company both grew by more than 9%, with revenue shading ahead of costs to produce the improved operating profit. This was further assisted by reduced net interest costs.
Financial Report
Arriva Cymru Limited
Results
| Year to | 31 Dec 08 | 31 Dec 07 | Change |
| Item | £000 | £000 | % |
| Turnover |
27,886 |
25,425 |
+9.7% |
| Operating Costs |
25,121 |
23,049 |
+9.0% |
| Operating Profit/(Loss) |
2,765 |
2,376 |
+16.4% |
| Other Costs/(Income) |
80 |
101 |
-20.8% |
| Pre-Tax Profit/(Loss) |
2,685 |
2,275 |
+18.0% |
| Tax Payable/(Credit) |
830 |
902 |
-8.0% |
| Net Profit/(Loss) |
1,855 |
1,373 |
+35.1% |
| Exceptionals |
0 |
0 |
- |
| Profit/(Loss) for Year |
1,855 |
1,855 |
+35.1% |
Performance
| Year to | 31 Dec 08 | 31 Dec 07 | Change |
| Operating Profit Margin |
9.9% |
9.3% |
- |
| Pre-Tax Profit Margin |
9.6% |
8.9% |
- |
| Return on Capital |
57.8% |
81.6% |
- |
| Return on Assets |
6.5% |
6.1% |
- |
| Dividend Paid (£000) |
0 |
0 |
|
| Turnover per employee |
£40,769 |
£38,176 |
+6.8% |
| Pre-tax profit per employee |
£3,925 |
£3,416 |
+14.9% |
Statistics
| Year to | 31 Dec 08 | 31 Dec 07 | Change |
| Staff employed (total) |
684 |
666 |
+2.7% |
| Total Asset Value (£000) |
28,503 |
30,659 |
-7.0% |
| Company Net Worth (£000) |
4,643 |
2,788 |
+66.5% |
| Capital investment (£000) |
800 |
26 |
+2976.9% |
