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Go-Ahead H1 in line with expectations despite difficulties in bus division

Thu, 19th Feb 2015 08:32

Public transport operator Go-Ahead said its first-year results were in line with expectations but the second half might see a slowdown in revenue growth due to lower passenger journeys in its Go North East and Oxford Bus company.Passenger numbers in Oxford were particularly affected by roadworks, with long delays due to congestion deterring bus travel.As a result, its regional bus business was down 0.5%. However, excluding these businesses, passenger growth was 1.7%.Bus revenue in London also declined year-on-year due to contract losses.The group's revenues rose 13.8% to £1.56bn during the first-half, especially helped by a 18% increase in rail turnover.Profit before tax was also up 10.9% to £44.7m, but adjusted earnings per share declined 9.2% to 75.6p.Go-Ahead said it started "significant" new rail contracts over the period, including GTR, which the group believes it will "shortly become the UK's largest franchise".Chief executive David Brown said: "The board's expectations for the full year results remain unchanged, with second half profits expected to be similar to those in the first half of the year for both our bus and rail divisions."The group remains in a good financial position, with strong cash generation and a robust balance sheet supporting our progressive dividend policy and allowing flexibility to pursue value-adding opportunities."Shore Capital analysts said: "We expect baby steps into new markets to be measured and to require a relatively small investment, which will leave room for a special return of cash."The broker gave a 'hold' recommendation and a 2446p target price.Shares were down 1.27% to 2414p on Thursday at 09:12.
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Kinetic lifts takeover offer for Go-Ahead by £22m

(Sharecast News) - Australian bus group Kinetic and Spanish infrastructure specialist Globalvia have lifted their takeover offer for London-listed transport operator Go-Ahead by £22m.

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4 Aug 2022 09:01

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1 Aug 2022 16:01

UK shareholder meetings calendar - next 7 days

Tuesday 2 August 
Caffyns PLCAGM
Syncona LtdAGM
Tanfield Group PLCAGM
Wednesday 3 August 
Block Energy PLCAGM
Molten Ventures PLCAGM
Cambium Global Timberland LtdGM re wind-up
John Wood Group PLCGM re Built Environment sale
Sequoia Economic Infrastructure Income Fund LtdAGM
Edenville Energy PLCAGM
RiverFort Global Opportunities PLCAGM
Conduity Capital PLCAGM
Scirocco Energy PLCAGM
D4t4 Solutions PLCAGM
Thursday 4 August 
Glantus Holdings PLCAGM
Investec PLC and LtdAGM
STM Group PLCAGM
Starcrest Education LtdAGM
Friday 5 August 
JPMorgan Global Core Real Assets LtdAGM
San Leon Energy PLCEGM
San Leon Energy PLCGM
Trian Investors 1 LtdEGM re removal of three current directors
Trian Investors 1 LtdAGM
Verditek PLCAGM
Monday 8 August 
Altus Strategies PLCGM re merger with Elemental Royalties Corp
Bushveld Minerals LtdAGM
Essentra PLCGM re unit sale
Go-Ahead Group PLCGM regarding takeover by Kinetic and Globalvia
Oscillate PLCAGM
  
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25 Jul 2022 19:24

More UK travel chaos as another rail union announces strike action

(Alliance News) - Another UK rail union has announced strikes in the worsening dispute over jobs, pay and conditions – threatening travel chaos in the coming weeks.

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21 Jul 2022 14:51

Go-Ahead affirms support for takeover offer as Kelsian withdraws

(Alliance News) - Kelsian Group Ltd on Thursday confirmed it will not make an offer to buy UK transport provider Go-Ahead Group PLC, as Go-Ahead reiterated its support for a rival takeover bid by a consortium of Kinetic Tcp Pty Ltd and Globalvia Inversiones Sau.

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21 Jul 2022 10:28

SMALL-CAP WINNERS & LOSERS: Go-Ahead suitor pulls out; Costain rises

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21 Jul 2022 08:37

Kelsian abandons pursuit of Go-Ahead

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11 Jul 2022 13:46

Kelsian refuses to rule out bidding war for Go-Ahead

(Sharecast News) - Australia's Kelsian Group urged shareholders in Go-Ahead Group not to take any action on Monday, as it continued to mull its own potential offer for the British business.

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11 Jul 2022 08:42

Go-Ahead buses as busy as pre-Covid times in promising virus recovery

(Alliance News) - Go-Ahead Group PLC on Monday said it expects a "busy summer ahead" as the transport operator's customer numbers surge as Covid-19's grip on the market weakens.

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11 Jul 2022 07:56

Go-Ahead expects to report 'good' FY performance as demand recovers

(Sharecast News) - Transport operator Go-Ahead said on Monday that it expects to report a "good" performance for the year to 2 July as passenger demand recovers.

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