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03/07/2014
Translink Record £8.8m Loss For 2013/14
Northern Ireland bus and rail operator Translink have recorded a pre-tax profit for the year to march 30 of £0.3m, down from £9.1m in the previous year.
The company has said that a reduction in funding for pension contributions from the Department of Regional Development (DRD) is partly to blame for the fall.
The company had budgeted for a loss of £5.8m. This was due to an expected cut in DRD funding that was used to fund concessions, such as free travel for pensioners.
The company added that it would face increased budgetary pressures if such concessions were not properly funded.
(MH/CD)
The company has said that a reduction in funding for pension contributions from the Department of Regional Development (DRD) is partly to blame for the fall.
The company had budgeted for a loss of £5.8m. This was due to an expected cut in DRD funding that was used to fund concessions, such as free travel for pensioners.
The company added that it would face increased budgetary pressures if such concessions were not properly funded.
(MH/CD)
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