Bus firm's profits up 60% since C-charge

London bus companies will get another profits bonanza if the congestion charge is extended to Kensington and Chelsea. Operator Go-Ahead admitted today it is rubbing its hands at the prospect of the zone being extended.

It reported profits up 60 per cent as it emerged that it has made more than £50 million on the buses since Ken Livingstone introduced the £5-a-day charge in central London.

Go-Ahead, which trades as London General, London Central and Metrobus, picked up about 40 per cent of the new bus services under the Mayor's £1 billion subsidies.

New bus services will be needed throughout Kensington and Chelsea if the zone is expanded. Go-Ahead executive Chris Moyes said: "We don't know what they will do with Kensington and Chelsea but we would look to benefit if they need more capacity." Chief executive Martin Ballinger, who has seen his stake in the firm leap to £41 million, is set to receive £1.2 million in dividends this year.

Go-Ahead also revealed profits of about £30 million from running South Central trains, despite criticism of new trains lying idle.