Go-Ahead’s good performance
In an Interim Management Statement for the period from 29 December 2013 to 30 April 2014, Group Chief Executive of Go-Ahead, David Brown, said he was ‘pleased’ with the overall performance of his company. In its deregulated bus operations, it reported solid underlying revenue growth, which it claims has been driven by rises in passenger numbers and increased mileage. Both commercial and concessionary travel continue to grow on its network. Excluding the effect of the Olympics, revenue grew 4% and passenger growth increased 2%.
Go-Ahead’s regulated London bus operations have delivered what it described as a strong performance, with further mileage growth in the third quarter due to continued higher levels of rail replacement work. Following on from an extended period of stronger than expected QICs performance, bonus payments declined slightly in the quarter. Excluding the Olympics, revenue went up 8% and mileage operated rose 2.5%. The figures were reported on a year to date basis from 30 June 2013 to 29 March 2014.