Whilst I'm unsure about the hope valley stoppers, I'd be surprised if the Manchester - Sheffield section of the express services wasn't breaking even operationally.
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When you look at the passenger flow maps for Piccadilly Vs Victoria, you can see that Hope Valley carries a similar number of passenger volumes to the Huddersfield route. Bolder than the line out to Liverpool too.
It's remarkably heavily trafficked for the level of infrastructure and type of trains that run on it. It would be good to see it recieving some well deserved extra service in express or semi fast form.
Of course, Piccadilly is a bit doomed as a bottleneck, although I'd guess the train shed perhaps has a little more room for manoeuvre than 13/14.