‘Robust’ trading for Go-Ahead
Go-Ahead Group Plc has reported ‘robust’ trading in its first quarter financial update covering the period 3 July 2016 to 1 October 2016. The Group says it remains in a good financial position, with strong cash generation and a robust balance sheet. Revenue and passenger journeys in its regional bus business have continued at a similar rate of growth to the second half of last year. Revenue grew 2%, whilst passenger journeys increased 0.5%. Economic weakness in the north east continues to impact its operations in the region, suppressing overall growth rates for the division. Excluding this area, its revenue growth was 3% and passenger growth was 1.5%. The rate of growth in revenue and mileage in its London bus operations has slowed, in line with its expectations, with revenue up 4% and mileage rising 0.5%.