Nottingham Trams Limited, which operates and maintains the tramway services in Nottingham on behalf of Tramlink under the NET brand, has released its financial results for 2022
Less than five percent of Nottingham tram passengers use the service without a ticket, according to a new financial report. .
Last year the business, which has a contract for the city's trams until 2034, said it adjusted to rising passenger demands following Covid. The firm said passenger demand reached a peak of 93 percent of pre-pandemic levels in the autumn, following the lifting of all pandemic restrictions. This was attributed to the return of popular city attractions like Goose Fair and Winter Wonderland, as well as the return of students and commuters. The financial report highlighted a "particular effort" had been made to tackle fare dodgers, with the company reporting less than five percent of passengers had not paid for a ticket.The directors of the company said they were "satisfied" with its performance, with turnover and operating profit higher than in 2021.
Directors said they expected to be able to operate for the foreseeable future after considering increased energy costs and inflation. The profits of the firm contrast with overall tram service operator Nottingham Express Transit , which reported a £20.4m loss in its last financial year. This is despite passenger numbers recovering steadily after the pandemic, with data showing a 58 percent increase in passenger journeys and 14.4 million trips being recorded in the year ending March 2023. The public transport network was recently backed by political and business leaders after operators admitted to an "unprecedented" year of issues so far.
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