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Most of Cardiff Bus fleet given zero financial value

Buses

Rhodri Clark
18 May 2021
 

The impact of Covid-19 on the bus market has resulted in most of the Cardiff Bus fleet being allocated zero value in the municipal company’s recently published 2019/20 annual report.

Cardiff City Transport Services, trading as Cardiff Bus, made a gross profit – revenue minus cost of sales – of £1.7m during the year, compared with £578,000 the preceding year. Impairments and administrative expenses resulted in an operating loss of £11.2m, compared with the...

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