First Group expects jump in first half train revenue

T Gr

T Group yesterday said that higher fares had failed to dent demand for train travel, with like-for-like passenger revenue expected to increase by nine per cent in the six months to the end of September.

The group, which runs First Capital Connect commuter services in London, said it was looking forward to expanding its number of routes when the Department for Transport begins its new franchising programme next year.

Trading at its bus division – which is more heavily exposed to regions outside of London – was less strong, with like-for-like passenger revenue seen up by 1.2 per cent during the first half.

First said it expected to see more challenging conditions in the second half of the year. The firm announces half-year results on 9 November.