Business overview
• Overall results in line with management expectations, full year expectations are unchanged
• Bus operating profit up 14.7% to £40.6m
• On course to achieve bus operating profit target of £100m by 2015/16
• Record passenger numbers in bus and rail
• Profit before tax rose 30.8% to £40.3m
• Bids submitted for the Thameslink and Crossrail franchise competitions during the period
• Strong cash management allowing increased investment and reduced net debt
• Maintained half year dividend at 25.5p
