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Bosses of three firms that supply trains to UK railways made £3.5m last year

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Cite

correspondent, G. T. T. (2026, October 2). Bosses of three firms that supply trains to UK railways made £3.5m last year. The Guardian. https://www.theguardian.com/business/2026/oct/02/bosses-firms-trains-uk-35m-pounds-last-year

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The Guardian · collected 2026-10-02 · by Gwyn Topham Transport correspondent

Quick Summary

The chief executives of three firms that lease trains to Britain’s railways—Porterbrook Holdings, Eversholt Rail, and Angel Trains—were collectively paid £3.5 million last year as their companies distributed nearly £400 million in dividends to shareholders. Rail unions criticized these companies for prioritizing profits over passenger needs, arguing that the high payouts exacerbate passengers' financial burdens during a cost-of-living crisis. Union leaders called for government action, such as imposing levies on rolling stock companies or direct public ownership of trains through Great British Railways.
Written by AI on 2026-10-02, from this article's own text only (the story summary below draws on all the coverage).

AI analysis

Story summary

In 2025, the chief executives of three UK train leasing firms—Porterbrook Holdings, Eversholt Rail, and Angel Trains—were collectively paid £3.5m as their companies distributed nearly £400m in dividends to shareholders. Porterbrook's CEO, Mary Grant, received a salary increase of over 10% to £1.44m, while Eversholt Rail paid its departing CEO, Mary Kenny, £1.33m shortly before the company was sold to Beacon Rail for £200m in dividends. Angel Trains distributed £111m in dividends and paid its chief executive Malcolm Brown a comparatively modest £700k. These payments are drawing criticism from rail unions, who argue that Roscos are profiting at passengers' expense. The government is now considering direct public ownership of trains through Great British Railways to better serve taxpayers and passengers, rather than leasing from the private sector.

Written for “Train Company Executives Earnings” on 2026-10-30, grounded in this article and the 0 other(s) covering the same event.

Story

📰 Train Company Executives Earnings
Economy/Business · 1 article(s) covering the same event.

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How this article was measured signals, leaning charts, publisher record, byline, topics and claims

Signals How these are calculated →

Claims extracted
18
sentences that state something as happening or true
Uncertain
6%
1 of 18 hedged ("reportedly", "may", "according to")
Leaning
Leans strongly left
of the writing, not the subject · beta estimate
Publisher signals
66/100
The Guardian's corrections and hedging, across everything collected from it. Not a measure of accuracy.
Outlets on this story
1
Economy/Business
Same framing elsewhere
1
articles that frame the event the way this one does
Analyzed 2026-10-02 · how these are computed

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Article leaning vs. publisher reliability
Source leaning vs. consistency

Publisher

The Guardian · 2714 article(s) · 6 correction(s) detected
Running correction rate · 6 correction(s)

Who wrote this

Gwyn Topham Transport correspondent
13 article(s) here · 1 carrying a prediction
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Also by Gwyn Topham Transport correspondent
Nothing else under this byline is closely related to this article, so these are simply their most recent.
All 13 articles by Gwyn Topham Transport correspondent →

Topics

Angel Trains Beacon Rail Britain Great British Railways Roscos

Subjects

Roscos ORG · 4× Great British Railways ORG · 3× Angel Trains ORG · 2× Beacon Rail ORG · 2× Britain GPE · 2× RMT ORG · 2× CK Hutchison ORG · 1× Eversholt Rail ORG · 1× Mary Grant PERSON · 1× Porterbrook Holdings ORG · 1×

Narrative

The latest figures show Porterbrook Holdings paid £80m in dividends and increased the pay of its chief executive, Mary Grant, by more than 10% to £1.44m. Eversholt Rail paid out £200m in 2025 shortly before it was sold by CK Hutchison to Beacon Rail, with its departing CEO, Mary Kenny, paid £1.33m.
framing: assertive · carried by 1 article(s) · first seen 2026-10-02
🔮 Heidi Alexander told the Labour conference on Monday that if Great British Railways owning trains would best serve taxpayers and passengers, then we should do it”.

Claims (18 extracted, 1 hedged)

The chief executives of three firms that rent out trains to Britain’s railways were paid a combined £3.5m last year as they passed on almost £400m to shareholders in dividends. asserted
they → rent → dividends
Rail unions accused the rolling stock companies (Roscos) of raking in profits at passengers’ expense. asserted
unions → accuse → expense
The figures emerged in accounts published this week after ministers announced a new rolling stock strategy for Britain’s railways. asserted
ministers → emerge → railways
The government is considering direct ownership of trains through the public body Great British Railways rather than leasing them from the private sector. asserted
government → consider → sector
The latest figures show Porterbrook Holdings paid £80m in dividends and increased the pay of its chief executive, Mary Grant, by more than 10% to £1.44m. Eversholt Rail paid out £200m in 2025 shortly before it was sold by CK Hutchison to Beacon Rail, with its departing CEO, Mary Kenny, paid £1.33m. asserted
CEO → show → m.
Angel Trains paid £111m in dividends and a relatively modest £700,000 to its chief, Malcolm Brown. asserted
Trains → pay → chief
Their pay far outstrips the highest salaries elsewhere on the railway, including the bosses of Network Rail and HS2. asserted
pay → outstrip → Rail
The RMT union called for a levy on rolling stock companies (Roscos) after highlighting the dividend payments and salaries. asserted
union → call → payments
It said the three biggest Roscos had paid out £2.4bn over the last 10 years in dividends. asserted
Roscos → say → dividends
The general secretary of the RMT, Eddie Dempsey, said: “The government’s commitment to explore publicly owned rolling stock for the new trains in the future is welcome but in a cost of living crisis we need action now. “ asserted
we → say → action
We are calling on the government to use this month’s budget to introduce a ‘cost of travel’ levy on profits to fund a 3.4% fare cut, rather than watching the cash being salted away.” asserted
cash → call → cut
Heidi Alexander told the Labour conference on Monday that if Great British Railways owning trains would best serve taxpayers and passengers, then we should do it”. asserted
we → tell → it
According to the rail regulator, operators last year spent more than £4bn leasing trains from the Roscos, whose net profit margin was 18.5%. uncertain
margin → accord → Roscos
A spokesperson for Porterbrook said it had “deployed over £1bn of capital in new trains, fleet upgrades, traction innovation and rail infrastructure since 2020, and we are actively looking to invest a further £1bn in the years ahead”. asserted
we → say → years
They said the group’s companies were UK tax resident, and had paid £82m in the past three years, adding: “It is because of the funding that our shareholders provide that we can make substantial investments in the railway.” Angel Trains is incorporated in Jersey and within the realm of UK taxes. asserted
Trains → say → taxes
A spokesperson said: “We believe decisions on future fleets should be focused on securing the best outcomes for passengers, while maintaining the conditions and opportunities needed to attract future investment into the railway. asserted
decisions → say → railway
We look forward to continuing to work constructively with government and Great British Railways.” asserted
We → look → government
Eversholt and its new owner, Beacon Rail, were approached for comment. asserted
Eversholt → approach → comment
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