East Anglia: Go-Ahead lifts annual forecast after strong first half

Go-Ahead group chief executive David Brown.

Go-Ahead group chief executive David Brown. - Credit: Archant

Bus and train operator Go-Ahead said yesterday it was lifting its full-year forecasts as it trailed a “robust” first-half performance.

In a pre-close trading update ahead of results for the six months to December 28, Go-Ahead said its bus and rail divisions would both report growth in commercial revenue for the period.

Revenue from its deregulated bus services, which in East Anglia include the Hedingham, Chambers and Anglia Bus fleets, were expected to be 2.5% up in total compared with last year’s first half and 3% higher stripping out the boost from the 2012 Olympics.

Revenues from its regulated bus services in London were expected to be 4% up in total, and 7% higher adjusted for the Olympics effect.

Passenger revenues from the group’s Southern, Southeastern and London Midland rail franchises were expected show increases of 6%, 2% and 8% respectively overall, with growth of 7%, 6% and 10% respectively excluding the Olympics, it added.

Group chief executive David Brown said: “I am pleased with the continued robust performance across our operations. Our bus and rail divisions have both seen commercial revenue growth in the year to date.”

“Performance in our Southern franchise was better than anticipated and as a result our forecasts for the full year to June 20, 2014, are slightly ahead of our previous expectations.

Most Read

“Our bus operations continue to perform well and we remain confident in our target to achieve bus operating profit of £100million by 2015-16. The performance of all three rail franchises has been good in the year to date,” he added.

Go-Ahead’s results for the half-year are due to be released on February 20.