Published 23/04/2013 | 09:42
Group chief executive: Catherine Mason
Pretax profits: £6.5m
Translink is the trading name for the Northern Ireland Transport Holding Company. It is the main provider of passenger transport in Northern Ireland. Through its Metro, NI Railways, Enterprise, Goldline and Ulsterbus services.
Over the past year almost 1.5 million more people have travelled on it buses and trains as fare paying passengers; overall passenger numbers are expected to exceed 78 million this year.
The annual report for the year to March 25, 2012 is a statutory requirement of the group and combines an overview of the financial performance together with the formal accounts.
Partly because of the extensive Government involvement in approving its business plans and providing extensive financial support, the commercial significance of the trading accounts needs to be interpreted with care.
In a change to align with Government requirements for a public sector commercial organisation, Translink has this year presented its accounts using the IFRS (International Financial Reporting Standard). The change has little impact on the trading figures but involves significant presentation differences for pension funds and their tax treatment.
Total revenue raised held steady. Operating profits were recorded in the year to March 2011 but became a loss in the most recent year. Pre-tax profits in the year to March 2012 were £6.5m but this was helped by an unusual income item of £7.7m.
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