A LEADING North Yorkshire bus manufacturer has reaffirmed its commitment to creating greener vehicles ahead of its annual general meeting next week.

Sherburn-in-Elmet-based Optare’s annual report and accounts for the year ending March 31 reveal that revenue for the period was £38.3 million compared with £57.8 million the previous year, a 34 per cent fall.

In his report Graham Belgum, president of the company, which will hold its annual meeting on Thursday, September 27, said: “Loss after tax was £9.3 million; this can be attributed to a combination of factors, which include a contracted market, an absence of Government funding for electric buses over the last two years, a multimillion-pound investment in after-market quality campaigns and investment in product development.”

He said the overall UK bus market contracted by seven per cent compared to the previous year, primarily driven by the single-deck segment while the double-deck segment grew slightly.

Optare’s operational highlights included the ‘productionisation’ of its Metrodecker, the development of the extended range of the electric Solo and increased sales of the Metrocity midi-bus. The company expected the UK bus market to grow by six per cent and the board expected Optare to progress “towards a profitable performance” in 2016-17.

Describing Optare as the industry leader in electric buses in the UK market, he said: “Optare is about so much more than building buses.

“As a manufacturer we have a responsibility to innovate greener vehicles and provide service solutions that support operators in delivering an outstanding service for passengers at the best possible whole-life cost.

“This philosophy is at the heart of everything we do.”

In his report chairman John Fickling said customers remained the focus of everything the company did, adding: “We continue to strengthen our business relationships with the major bus groups.”

He said Optare would continue to “embrace the environment” by developing and delivering green product technology.