Go-Ahead first quarter in line, on track for full year

(ShareCast News) - Transport operator Go-Ahead Group said its overall trading performance in the first quarter has been satisfactory and it remains on track to meet its full-year expectations for bus and rail operations.For the period from 28 June to 19 October, revenue in the bus division was up around 1% but passenger journeys were down around 1.5%.In the rail division, passenger revenue for the Southeastern service was up around 6%, with passenger numbers up 3.5%.London Midland saw passenger revenue rise around 11%, while passenger journeys increased 5%. GTR revenue was up about 4.5% and journeys increased by 2.5%."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."Go-Ahead said that in the second quarter of the year, it expects the Department for Transport to announce the successful bidders for the Northern and TransPennine Express franchises, and it will be submitting its bid for TfL's London Overground contract.Overseas, it's awaiting outcome of a bid submitted in the Singapore bus market.