Go-Ahead overtakes expectations
Bus and train operator Go-Ahead this morning said third quarter trading was strong and it now anticipates it will deliver full year operating profit ahead of previous expectations.
The North East firm said it continues to see impressive growth across all businesses. In the quarter, passenger numbers on the deregulated bus services were up by 7.2% and on rail by 5.8%.
Cashflow remains strong and the balance sheet is robust, while year end net debt remains in line with expectations.
Meanwhile, the Group expects to deliver full year operating profit which is ahead of previous expectations.
Keith Ludeman, group CEO, said: “Once again, we have seen a strong performance across our businesses. The continued growth in bus passenger numbers demonstrates that the public are increasingly leaving their cars at home. The public is struggling with the current high levels of fuel pricing and many are now choosing the better value alternative of the bus.
“The growth in passengers on our trains - many of which serve London - also suggests that employment levels and discretionary journeys remain robust in the capital. “While there is much to be positive about in today’s trading update, we continue to remain cautious about the medium term prospects for the wider economy.”
This was posted in Bdaily's Members' News section by Ruth Mitchell .
Enjoy the read? Get Bdaily delivered.
Sign up to receive our popular morning National email for free.