Rail specialist reports increased levels of visibility in rail sector

Rail specialist Jarvis has said it is cautiously optimistic about results for the year ended 31 March 2009.

In a trading update the group said it was 鈥渘ot immune鈥� from the wider credit crunch but that its overall performance had been solid.

Higher fuel costs and the general economic downturn had hit its plant and freight divisions while it said it was benefitting from 鈥渋ncreasing levels of visibility鈥� in the rail sector.

The consensus forecast for this year is pre-tax profit of 拢11m on turnover of 拢305m.

In May the company announced a return to the black after making a loss of 拢21.7m in 2006.

Jarvis has suffered from reputational and financial difficulties since the Potters Bar train derailment in May 2002, for which it accepted liability on behalf of the industry.

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