WMT profits after deregulation
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• West Midlands Travel produced a profit of .217.6 million during its first 18 months of operation after deregulation, according to figures released by the company last week. It recorded a turnover of 2175 million up to 31 March. Around 97% of bus operations run by the firm's predecessor, West Midlands Passenger Transport Executive, have been sustained and the company says it will freeze fares during the next financial year.
The decline in passengers has been reversed and West Midlands Travel says the number of passengers is now only 5% down on figures prior to deregulation, to 420 million passengers a year.
The company has also announced a 250 million investment programme which will replace the entire fleet of 1,800 buses during the next two years. An order has already been placed with MetroCammell Weymarm for 150 new double-deckers.
West Midlands Travel is also investing in customer care courses for all its staff: so far 2,000 people have taken part.