Go-Ahead confident of ‘robust performance’ despite profit dip

Bus and rail operator Go-Ahead has reported results ‘ahead of expectations’ despite pre-tax profits dipping by a third.

The group, which operates regional services throughout the UK as well as international services, reported an overall revenue increase of 10 per cent, driven largely by the firm’s bus division which saw a profit increase of 4.7 per cent.

Overall profits for the group dropped 33.4 per cent to £25.4m, down from £44.5m in 2018.

In its trading statement, the group maintained that it has maintained high levels of customer satisfaction in its services, in addition to securing four new international contracts.

David Brown, Go-Ahead’s group chief executive, commented: “I’m pleased to report full year results slightly ahead of our expectations in both bus and rail divisions.

“Strong performance in our London & International bus division more than offset a lower result in our regional bus business.

“Rail operating profit was slightly ahead of expectations, driven by strong performance at Southeastern, but was lower than the prior year which included a part year of operating the London Midland franchise. Our balance sheet remains strong and we have maintained our dividend.”

“Overall for 2020, we are confident that the group will deliver another robust performance in line with our expectations as we continue to execute our clear and well-defined strategy; strengthening our core business, diversifying into international markets and developing new ways of responding to a changing world.”