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Shares in Arriva were in reverse today after the operator of inter-city rail service CrossCrountry admitted growth has come to a juddering halt.
Arriva shares, down 10.7p at 412.25p, were spooked when the company admitted that a lowering in revenue growth from the CrossCountry franchise has weighed on the group's half-year performance which otherwise is in line with chief executive David Martin's targets.
The group reported half-year passenger revenue growth at CrossCountry has come in at 2.4% against 4.5% in the first quarter and 11.2% last year when the company was celebrating its shake-up of the business.
Given the rise in fares in the last year that indicates a fall in passenger numbers.
Arriva also runs trains in Wales where revenue growth has slowed from 10.9% last year to 8.7% this year.
Martin said Arriva would remain resilient in difficult economic conditions because of its range of businesses which include running buses in London as well as buses and trains throughout Europe.
