Highlights
• Overall profits up 11.1%, slightly ahead of our expectations as a result of a stronger performance in rail
• Record bus profits, up 6.6%
• Improvement in rail profits albeit at historically low margins
• Continued strong free cashflow and robust balance sheet
• Proposed full year dividend up 6.5% to 90.0p in line with our progressive policy
Strategic and operational progress
• Continued progress in bus division with sector-leading customer satisfaction in regional bus operations
• Expect to deliver £100m of bus operating profit in 2016/17, a year later than originally anticipated
• Record passenger numbers in rail division
• Group's net increase in contributions to the DfT in the year was £191.9m, up to £255.9m
• Challenging start in GTR - working closely with industry partners to improve performance and manage contract changes
• Submitted bids for Northern and TransPennine Express rail franchises and shortlisted for the London Overground contract
• Continue to explore selective opportunities in overseas markets
