Porterbrook whose headquarters are in Derby is one of the largest owners of passenger trains in the UK. The company invests into existing and new rolling stocks for both franchise operators, the government and customers.
The company’s latest accounts shows that the business pre-tax profits increased from £75.6m to £100.4m as of December 2021. Despite Covid-19 impacts on the rail and transport industry, and revenues dipping from £453.6m to £412.4m Porterbrook has still performed exceptional well.
A statement signed off by the board said: “The effect of the Covid-19 pandemic continues to be felt across the transport sector.
“In rail, farebox revenue returned to 66 per cent of pre-pandemic levels by the third quarter of 2021, which reflects structural changes in travel behaviours.
“Passenger volume increases in 2021 have primarily been driven by leisure markets, with some operators experiencing over 100 per cent of pre-pandemic levels of ridership.
“Commuter and business segments have seen slower levels of recovery, while provision of sufficient capacity remains key to rebuilding customer confidence and revenue.”
It added: “In accordance with the terms of the group’s leases, the risk of non-use of leased rolling stock arising as a result of a reduction in passenger volumes is borne by the train operating companies and, as a result, the group’s trading performance withstood the most significant impacts of the pandemic.”