Go-Ahead's revenue rises 6%

Train and bus services group Go-Ahead saw sales rose 6% in the year ended 2 July, as the group was able to offset a fall in revenue from its buses around London.The firm, which operates the Southeastern and Metrobus franchises, reported that revenue rose from £2.167bn to £2.297bn, as increases in rail and its deregulated bus division (outside London) outweighed a fall in the regulated bus division (inside London).Meanwhile, pre-tax profit increased 11.3% from £87.7m to £97.6m. Adjusted earnings per share rose 6.5% from 126.9p to 135.2p.Revenues from regulated bus fell 1.3%, due to reduced receipts through Quality Incentive Contracts (QICs) after the abolition of the QIC2 scheme. Like-for-like mileage at the division was slightly down, the firm said.Meanwhile, deregulated bus performed well, with 4.7% more passengers using the service over the year. Rail also had a good year, with passenger numbers up 8.5%."I am pleased with the performance of the group this year. Despite facing challenging economic conditions in the last 12 months and the adverse weather in the first half of the year, all of our operations have seen growth in like-for-like passenger revenue and passenger journeys," said chairman Patrick Brown.The total dividend was maintained at 81p per share.BC