Robust Trading for Go Ahead

Go Ahead Group report robust trading in bus and rail divisions in their latest half year results.

• Continued growth in bus volumes across all companies, helped by roll-out of smartcards
• Strong underlying rail performance with passenger journey growth in all franchises
• Underlying profit growth; previous first half included £9m of one-off rail contract management benefits
• Strong cash management and robust balance sheet
• Decrease in underlying net debt+ despite significant investment in new buses
• Maintained interim dividend at 25.5p
• Remain cautious about wider economic outlook

David Brown, Group Chief Executive, commented:

“I am pleased to report a good set of results for the first half of the financial year. Growth has continued across all of our businesses as the public seek high quality, convenient and value for money alternatives to the private car.

We have a very strong position in the UK rail market with our long term partner Keolis, with whom we have recently submitted initial bid documents for Thameslink and Essex Thameside. Together, we have been operating trains in the UK for 15 years, running around 5,500 services a day on our three franchises and carrying more passengers each year than on most European countries’ rail networks.
“The Group remains in a good financial position with strong cash generation and a robust balance sheet."
http://www.go-ahead.com/media/news/2012news/2012-02-23.aspx

 Go-Ahead is a leading UK public transport operator

• Headquarters: London, UK
• Employees: 22,000
• Registered Office: Newcastle, UK
• Buses: 3,900
• Trains: 800
• Bus Passengers: 1.7 million every day
• Rail Passengers: 1 million every day

David Gambles