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Timmer
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« Reply #1 on: July 12, 2011, 19:29:02 » |
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Hardly surprising then that FGW▸ want to hand back the keys in 2013 if they are making a loss now before the big premium payments kick in
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ChrisB
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« Reply #2 on: July 12, 2011, 21:05:58 » |
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Those figures are quite old: for example, Chiltern's are dated January 2010, meaning they refer to 2009.
And, as far as I know, figures for First's different TOCs▸ aren't available, except as a whole for First Rail as a whole. If I'm wrong, I'd like to be shown where they are publicly available!
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JayMac
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« Reply #3 on: July 13, 2011, 02:14:29 » |
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Accounts are available for First Group's individual companies. That is required by law for any registered company. The ^12m (-^12.8m according to accounts lodged with Companies House) operating loss figure for First Greater Western Ltd is from financial year ended 31st March 2009. For year ended 31st March 2010 First Greater Western Ltd made a profit of ^9.4m. Accounts for year ended 31st March 2011 are not yet available. Those from 2010 were published on 2nd November 2010. Company accounts are available online from Companies House. A small charge is payable per document. If anyone would like a copy of the First Greater Western Limited Accounts and Financial Statements from 31/03/2010 send me a PM with email details and I'll forward a copy of the .pdf. Gratis! |
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« Last Edit: July 13, 2011, 02:33:33 by bignosemac »
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"A clear conscience laughs at a false accusation."
"Treat everyone the same until you find out they're an idiot."
"Moral indignation is a technique used to endow the idiot with dignity."
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ChrisB
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« Reply #4 on: July 13, 2011, 05:24:41 » |
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If you read the accompanying notes on that website, it is quite clear that most figures quoted aren't current
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JayMac
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« Reply #5 on: July 13, 2011, 06:09:09 » |
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I take it, ChrisB, you are referring to the website that can be found by following the OPs▸ link to RailUK Forums and not Companies House?
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"A clear conscience laughs at a false accusation."
"Treat everyone the same until you find out they're an idiot."
"Moral indignation is a technique used to endow the idiot with dignity."
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ChrisB
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« Reply #6 on: July 13, 2011, 09:51:28 » |
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sorry, yes!
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devon_metro
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« Reply #7 on: July 13, 2011, 14:22:07 » |
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Interesting that First only clear ^5million, The government certainly does well from the privatised railway... franchise payments, then tax on profits at the end of it!
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Super Guard
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« Reply #8 on: July 14, 2011, 10:47:08 » |
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Perhaps the title of the thread should be changed to " FGW▸ success story - ^12.5m loss to ^9.4m profit...."  |
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Any opinions made on this forum are purely personal and my own. I am in no way speaking for, or offering the views of First Great Western or First Group.
If my employer feels I have broken any aspect of the Social Media Policy, please PM me immediately, so I can rectify without delay.
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inspector_blakey
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« Reply #9 on: July 14, 2011, 16:23:57 » |
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Sorry, meant to do exactly that when this thread first appeared but couldn't remember how to use the various moderator's button thingies to achieve it... Sorted now though!
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northwesterntrains
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« Reply #10 on: July 14, 2011, 16:27:46 » |
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Perhaps the title of the thread should be changed to " FGW▸ success story - ^12.5m loss to ^9.4m profit...." Not really the year before they made ^10m profit - so maybe it should say "2009 financial year - what went wrong at FGW?" Points of note are the FGW directors took an average of a 9% pay cut over the previous year and total revenue was up so more money got spent. Am I right in saying FGW were reporting a big reduction in off peak travel to and from London due to the recession? |
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ChrisB
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« Reply #11 on: July 14, 2011, 16:32:05 » |
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yup....and didn't they get fined that year too?
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Andrew1939 from West Oxon
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« Reply #12 on: July 14, 2011, 17:47:42 » |
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Mark Hopwood has said that there were various reasons for the loss. Business was not up to the franchise expectations, due to the recession (bankers, etc. in London being made redundant and therefore not travelling and people who used to travel first class down grading to standard.)
I suspect that the lost business was probably more concentrated on the Reading/Paddington commuter business as the Cotswold Line has not seen such losses of travellers. The last published figures for Cotswold Line stations showed a reduction in numbers on the previous year but that was almost certainly due to the line being closed for business for two weeks for infra structure works.
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northwesterntrains
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« Reply #14 on: July 16, 2011, 11:13:15 » |
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It says about them being keen to extend the TPE▸ franchise, which isn't surprising as not many franchises have so few empty seats at off-peak times. However, from what's been reported DfT» want to split up the TPE franchise as follows: * Manchester Airport to Scotland route to the West Coast franchise * Blackpool, Barrow and Windermere services to the Northern franchise * Manchester Airport to Cleethorphes to the East Midlands franchise * The North TPE routes which go through Manchester, Huddersfield and Leeds to go to either the East Coast or CrossCountry franchise. |
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