Company snapshot: Translink
Published 22/09/2008 | 16:27
Translink is the trading name for the Northern Ireland Transport Holding Company and its wholly owned subsidiaries, NI Railways, Ulsterbus and Citybus (which itself trades under the term Metro in the Belfast region).
The consolidated results for the group give an overview of the public sector involvement in public passenger services.
However, the aggregate results give little impression of the different trends in each of the subsidiary companies.
Turnover has increased marginally in the year to March 2008. This was a year with no significant fare increases although for the incoming year a series of increases about matching inflation have been approved.
There is significant revenue funding from Government to meet the costs of the Public Service Obligation for the railways and rebate part of excise charges on bus fuel.
In total, official revenue support (excluding the cost of concessionary fares) increased recently and amounts to the equivalent of 24% of trading revenue.
Concessionary fares add nearly £22m to the other £41m of revenue support.
A large proportion of the capital spending is provided as capital grants which, therefore, justifies only modest net depreciation provisions that are less than 2% of the balance sheet value of assets.