LONDON (Alliance News) - Transport operator Go-Ahead Group PLC on Thursday said its full-year expectations remain unchanged for both its bus and rail operations, following strong nine-month results.
The FTSE 250-listed company said revenue for its regional bus operation from June 28, 2015 to March 26 grew 2.5%, while revenue in its London bus operations increased 4.0%.
Passenger journeys declined for the regional bus services, down 0.5%, while contract gains, variations and rail replacement work in London helped Go-Ahead offset declines in its Quality Incentive Contract revenue, which continued to be hit by roadworks.
Rail revenue increased across Go-Ahead's franchises in the first nine months, with Southeastern revenue up 5.5%, London Midland revenue up 9.5% and GTR franchise revenue growing 3.0%.
Go-Ahead said current trading is "satisfactory" and it anticipates meeting full-year expectations for both its bus and rail operations. Its financial year ends in June.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
Copyright 2016 Alliance News Limited. All Rights Reserved.
