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Go-Ahead sees full-year performance ahead of expectations

By BFN News | 08:39 AM | Thursday 24 May, 2018


Go-Ahead said in a trading update that it expected to deliver performance slightly ahead of expectations amid good performance in its rail division year to date. 'The board is confident the group will deliver full year results that are slightly ahead of its previous expectations,' the company said. For the period from 2 July 2017 to 28 April 2018, the firm said revenue and passenger journey growth was impacted by adverse weather. In its regional bus division, Go-ahead said revenue growth was flat while passenger journeys growth fell 2%. 'Across the division we continue to see growth in some regions and expect regional bus profit for the second half of the year to be close to last year's level,' the company said. In London bus, mileage was flat, revenue rose 3% and peak vehicle requirement fell 1% as expected. The firmed warned that the timing of some contract losses would shave 1% off full-year mileage. 'The second half of the year is expected to deliver operating profitability at London bus that is comparable to the first half, representing an improvement on our previous expectations,' the company said. Go-Ahead said its Southeastern franchise saw passenger revenue grow 3.5% and passenger journeys rise 1%, supported by renewed services through London Bridge station, after three years of partial closure. During the period, the DfT confirmed a 12-week extension to the current Southeastern franchise to 1 April 2019, Go-Ahead said. The firm said it was made the preferred bidder for a second bus tender in Dublin by Ireland's National Transport Authority, taking the total number of routes operated by Go-Ahead in the Irish capital to 30. The contract would run for five years from early 2019 with a possible two-year extension. The company also announced it would launch a new minibus service in Oxford next month - called 'Pick Me Up'. At 8:39am: (LON:GOG) GoAhead Group The PLC share price was +44.5p at 1894.5p Story provided by StockMarketWire.com

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