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Railtrack under fire over profits

  : Thursday, November 04, 1999
Railtrack, Britain's railway infrastructure owner-operator came under attack again today (4 November)
Click to enlarge
source: bbc
as it announced half yearly profits of £236 m.

The pre-tax figure is the equivalent of around £1.3m for for the period April-September 1999 and represents a 5% improvement on the previous six months.

The company which has been facing mounting criticism since the Paddington disaster over its apparent reluctance to spend money on safety systems on the nations railway recieved yet another barrage from many quarters:
Railtrack profits spark anger
BBC Online 04 Nov 99
Railtrack has announced profits of more than 1m a day, prompting attacks over its investment in safety following the Paddington crash.
Anger over 'Teflon' Railtrack's profits
ITN 04 Nov 99
Anger has erupted after Railtrack announced increased half-year pre-tax profits of 236 million - or more than 1.3 million a day - in the wake of the Paddington disaster in which 31 people lost their lives.
The figures, for the period April-September 1999, come at a time when the company's safety record is under intense scrutiny following last month's Paddington rail crash.
Sir Alan Greengross, chairman of the London Regional Passengers Committee, said: "This is Teflon Railtrack - an organisation that seems tobe able to slide out of what passengers see as its obligations."

Railtrack's rising profits prompt resignation call
BBC Online 04 Nov 99
Large profits posted by rail infrastructure company Railtrack have been widely condemned by pressure groups and MPs. The announcement of a 5% rise in the firm's half-yearly profits to 236m has prompted widespread calls for increased spending - and demands for board members to resign.
Railtrack 1.3m-a-day profits spark anger
This Is London 04 Nov 99
Railtrack was facing another storm of public criticism today when it announced record pre-tax profits of almost 1.3 million a day, less than a month after the Paddington rail crash.
Call fror greater spend on safety
Sky News 04 Nov 99
Railtrack is under pressure to spend more on safety after it announced huge half-year profits.
At a time when its safety role has come under the microscope following the Paddington crash, Railtrack posted pre-tax profits of 236 million for the April-September 1999 period - a rise of five per cent.
This puts the company on course for record annual profit figures for 1999-2000 of around 440 million.

Railtrack regrets timing as profits rise
Yahoo 04 Nov 99
British rail operator Railtrack posted a five percent rise in pre-tax profits on Thursday and apologised for releasing its financial results so soon after last month's fatal train crash in London.
Railtrack said pre-tax profits for the six months to end-September rose to 236 million pounds -- slightly above analysts' expectations -- and that it would give an interim dividend of 9.3 pence per share.

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