Merseyrail in record profits surge

[Liverpool Daily Post]

MERSEYRAIL has made record pre-tax profits of ?9m, the Daily Post can reveal.

More... (http://www.liverpooldailypost.co.uk/liverpool-news/regional-news/2009/04/27/merseyrail-in-record-profits-surge-92534-23479631/)

[HongKongPhooey]

Nice timing, considering the current situation for anyone commuting from the Wirral ...

Here (http://www.miseryrail.co.uk)

:handclap:

They should be proud of themselves.

Chris.

[Howie]

Merseyrail warns of jobs cuts ? despite record Liverpool Capital of Culture profits
Apr 27 2009
by Neil Hodgson, Liverpool Echo

MERSEYRAIL made record pre-tax profits of ?9m last year ? but warned it may still axe jobs and make cutbacks.

The news sparked a warning from the Rail, Maritime and Transport Union (RMT).

They said they will oppose any redundancies amongst the Merseyrail workforce.

The rail operator revealed an upsurge in passenger numbers and revenue during Liverpool?s Capital of Culture year helped boost its coffers.

But company chiefs cautioned savings may have to be made if it can?t raise ticket prices next year.

Any increase in ticket prices is based on a formula that allows them to put prices up by the rate of inflation ? linked to the Retail Price Index in July.

Due to the credit crunch and recession inflation is likely to be negative meaning the company would be unable to increase fares next year.

Managing director Bart Schmeink, who was paid ?224,000 last year, if that was the case savings may have to be made including possible redundancies. :disgust:

More (http://www.liverpoolecho.co.uk/liverpool-news/local-news/2009/04/27/merseyrail-warns-of-jobs-cuts-despite-record-liverpool-capital-of-culture-profits-100252-23482197/)...