Saturday, 8 September 2012

Go Ahead Full Year Results

Turnover up to £2.423.8m  Profit slightly down to £110.2m

  • Highest ever passenger levels across both bus and rail
  • Largest ever investment in bus fleet of £80m
  • Best in class London bus operations; cost efficient and high quality operator
  • Record profits in deregulated bus driven by sector leading passenger growth
  • Robust rail performance with good revenue growth in all franchises
  • Five value adding bus acquisitions and shortlisted for the new Thameslink franchise
  • Underlying operating profit growth; prior year included £13m of one-off rail contract management benefits
  • Strong cash management and robust balance sheet
  • Maintained full year dividend at 81.0p; cover strengthened
  • Despite the challenging economic environment, the new financial year has started well and trading is in line with the Board’s expectations



Financial summary:FY’12
£m
FY’11
£m
Increase/
(Decrease)
£m
Revenue2,423.8 2,297.0126.8
Operating profit110.2115.1(4.9)
Operating profit margin (%)4.5%5.0%
Net finance costs(16.0)(17.5)1.5
Profit before tax*94.297.6(3.4)
Adjusted earnings per share (p)141.9135.26.7
Proposed full year dividend per share (p)81.081.0
EBITDA164.0164.3(0.3)
Cashflow generated from operations167.8137.929.9
Closing net debt(91.0)(69.8)
Adjusted net debt+/EBITDA (x)1.801.58
See statement from David Brown, Group Chief Executive on Go Ahead website

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