Our 65% owned rail operation is the busiest in the UK, responsible for nearly 30% of UK passenger rail journeys through its three rail franchises: Southern, Southeastern and London Midland.
2009 Rail highlights
- Operating profit* of £61.5m
- Continued revenue growth
- Three franchises focused on high density, urban commuter markets.
Our rail brands
Financial highlights
| 2009 | 2008 | |
|---|---|---|
| Revenue (£m) | 1,552.0 | 1,378.4 |
| Operating profit* (£m) | 61.5 | 77.2 |
| Margin | 4.0% | 5.6% |
| Passenger revenue growth | ||
| Southern** | 7.9% | 13.2% |
| Southeastern | 5.5% | 13.0% |
| London Midland | 9.1% | n/a |
| Passenger volume growth | ||
| Southern** | 7.9% | 6.7% |
| Southeastern | 1.0% | 6.4% |
| London Midland*** | 3.6% | n/a |
- *Before amortisation and exceptional items.
- **Growth rates exclude Gatwick Express (became part of Southern on 22 June 2008).
- ***Growth rates based on comparison with 11 November 2007 to 28 June 2008 (London Midland became part of the Group 11 November 2007).
Revenue by franchise
| 2009 (£m) | 2008 (£m) | |
|---|---|---|
| Southern | 602.4 | 557.1 |
| Southeastern | 577.8 | 581.6 |
| London Midland* | 371.8 | 239.7 |
| Total Rail | 1,552.0 | 1,378.4 |
- *Part year in 2008. Franchise acquired in November 2007.
