Arriva London North sees margins slip slightly as pension costs rise by over 30%

ARRIVA’S north London bus subsidiary recorded slightly reduced operating profits but increased pre-tax profits in the year to  December 31 2006, according to its annual accounts.

The company, originally known as Leaside Buses, has been part of the Arriva group since privatisation in 1994. The company runs a fleet of around 870 vehicles on London bus services, under contract to Transport for London.

Turnover during the year grew by 6.4% to £164.0m, whilst operating costs rose...