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Go-Ahead Group lifts outlook on London and international bus segment amid 'strong' performance

By BFN News | 08:55 AM | Thursday 06 June, 2019


Go-Ahead Group lifted its outlook on its London and international bus division due to 'strong' operational performance and reported gains in its rail division after improving service levels. In bus, London and International like-for-like revenue fell about 0.5%, but the company said its full-year expectations had increased, and now anticipated a stronger financial performance than last year, driven by higher quality incentive contract income. 'Our international bus operations in Singapore and Dublin are trading ahead of expectations, and we look forward to operating rail services in Germany from this weekend,' the company said. 'Our international development teams continue to work on contract opportunities in our target markets and there is also a strong pipeline in these areas.' The company hailed improved performance in its rail division as Southeastern saw passenger revenue increase 6%, while performance in its GTR segment was boosted by ongoing improvements in service levels. 'In rail, Southeastern remains the best performing large UK train franchise, with the highest levels of punctuality in its history. Service levels at GTR continue to improve with punctuality for the month of April reaching 89.3%, a record level for the franchise, after nine consecutive months of year on year improvement,' the company said. The company said it remained in discussions with the DfT regarding an extension to the current Southeastern contract and awaited the outcome of the new South Eastern franchise competition. At 8:55am: (LON:GOG) GoAhead Group The PLC share price was +200p at 2083p Story provided by StockMarketWire.com

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