LONDON (Alliance News) - Go-Ahead Group PLC on Tuesday said its overall trading in the first quarter has been satisfactory and affirmed its full-year expectations for its bus and rail operations.
The FTSE 250-listed transport operator said trading in its UK regional bus business in the first quarter, covering June 28 to October 19, was broadly in line with the second half of its 2015 financial year, with revenue up 1.0% but passenger journeys down 1.5%.
London bus revenue rose 2.0% in the quarter, though the group said its quality incentive contract continues to be hit by congestion in the capital from roadworks, which are expected to continue for the foreseeable future.
The rail business performed well again, however, with passenger revenue from its Southeastern service up 6.0%, London Midland revenue up 11.0% and GTR revenue up 4.5%. The London Midland performance was gilded by the service taking a hit from engineering work a year earlier.
Overall, Go-Ahead said trading is on track, and it is on course to meet its expectations for its bus and rail operations in its current financial year.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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