Go-Ahead’s first quarter

In the first quarter of its financial year from 28 June 2015 to 19 October 2015, Go-Ahead Group reported trading in its regional bus business as similar to the second half of last year, as expected. Its revenue in this sector rose 1%, whilst its patronage fell 1.5%. Both mileage operated and revenue growth in its London bus operations have been consistent with its expectations. Its revenue from its services in the capital rose 2.5%, whilst its mileage operated increased 2%. Its Quality Incentive Contract revenue continues to be adversely affected by congestion resulting from roadworks, which are expected to continue in the capital for the foreseeable future. Overall, the Group’s current trading was described as ‘satisfactory’ and it remains on course to meet its full year expectations for both the bus and rail divisions. It says it remains in a good financial position with strong cash generation and a robust balance sheet.

Group Chief Executive of Go-Ahead, David Brown, said, ‘Overall trading performance has been satisfactory and our full year expectations for both bus and rail operations remain unchanged. We continue to make progress in our bus division. Our locally run bus companies work in partnership with local authorities and are focused on the needs of the communities they serve. We are proud of our high levels of customer satisfaction, which remain the best in the sector at 90%.’

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