Turnover for the company rose almost 2%, from £15.5 million in 2017 to £15.8m for the year ending December 31 2018.

Pre-tax profits also increased from £802,000 in 2017, to £3.3m last year, an increase of 316%, after selling its site in East Dock Street for an undisclosed sum.

The staff headcount at Xplore Dundee decreased from 324 in 2017 to 312 in 2018, with 255 staff employed in vehicle operation, 27 engaged in servicing repairs and maintenance and 30 other operation staff.

However, salaries and associated costs over the same period of time rose from £9.2m to £9.5m.

Xplore Dundee invested in 14 new hybrid buses in November last year, to replace older models and retrofitted a further seven with abatement systems meet EU standards.

A new ticketing system has also been introduced which delivers greater levels of information to customers and enables contactless payments.

Christine McGlasson, managing director of Xplore Dundee, told The Courier: “Xplore Dundee’s accounts for 2018 show that we sold our East Dock Street site and we now lease our bus garage back from the property owners. It is a 20-year lease, so there are no immediate plans to move.”

She added: “The bus industry remains challenging across the UK and Dundee. Congestion in cities and the resultant effect on journey times need to be tackled to encourage this sustainable mode of transport.

“We continue to work closely with all partners, including Dundee City Council, to make sure that travelling by bus is the best choice for more and more people in our city.”