Profits - UK - Lothian Buses drives in the fast lane with £16.3m on
Edinburgh,Scotland,UK -edinburghnews.com, by ALAN RODEN -4 Aug 2006: -- Lothian Buses quadrupled profits and gave its highest-paid director a 16.5 per cent salary increase in the same year that its drivers went on strike in a bitter pay dispute... The council-owned firm made a £16.3 million profit in 2005/06, mainly due to the multi-million pound sale of its Shrub Hill depot off Leith Walk to housing developers... Lothian Buses said that the extra income, which does not include money from recent fare hikes, will be spent on more new buses - with the exception of a £2.2m annual dividend paid to the council...
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