NORTHERN Ireland Railways (NIR) has announced a pre-tax deficit of more than £300,000 for the year to the end of March.

Turnover increased by more than £1 million to £21.2 million, while passenger income rose by £1.3 million to more than £11 million.

NIR, which employs over 780 people, is part of the Northern Ireland Transport Holding Company (NITHC), which recently announced profits of £6.9 million. NITHC also includes Ulsterbus and Citybus.

NIR chairman, Mr Bill Smith, said the company expected to introduce new highspeed trains on the Belfast to Dublin route later this year.