Saturday 20 October 2012

Go Ahead Aiming for Growth

Go-Ahead is aiming to grow its bus operating profit to £100m by 2015/2016.
The ambitious target will be revealed at a meeting for financial analysts, when the Newcastle-based business will also reveal it is continuing to trade strongly.
Go-Ahead, which runs buses around the UK with a strong presence in London plus the Southern (which includes the Gatwick Express), Southeastern and London Midland rail franchises, is giving a trading update for July 1 to October 17.

Go-Ahead chief executive, David Brown, said: “I am pleased to report strong growth across our regulated and deregulated bus businesses, demonstrating the effectiveness of the group's strategy of providing high quality, cost efficient and locally focused bus services.
“We believe there is significant potential to grow this core part of our business and today have announced a target to organically grow bus operating profit* to £100m by 2015/2016.
“We remain committed to operating in the UK rail market and are pleased to report strong underlying growth in passenger revenue across our three franchises.”
And as expected, the company’s London bus interest benefited from Olympic traffic.
"The London 2012 Games took place during the first quarter of our financial year and I am really proud of the key role Go-Ahead played in helping to deliver a highly successful transport network for the Olympics and Paralympics,” said Brown.
"Whilst we are encouraged by our performance in the first quarter, we remain suitably cautious about the medium term wider economic outlook."

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