BUS and train group Arriva has announced that it is trading in line with expectations thanks to good management and strong European operations.
Continued growth in the Sunderland company's mainland European operations and good management of fuel costs meant profits were being maintained, shareholders were told at Arriva's annual meeting.
Chairman Sir Richard Broadbent said: "The group is in very good shape. It is strategically focused, delivering consistent results and has an excellent management team.
"We have maintained the positive start to the year we announced at our preliminary results - trading is in line with expectations.
"Our strategy remains to generate shareholder value by ensuring our current businesses reach their full potential and delivering strong growth through targeted acquisitions and tendering opportunities."
Arriva has warned of further price rises because of soaring fuel bills.
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