Transport group Go-Ahead said trading in the second quarter of the year remained robust as it sticks with company forecasts for the full year to the end of June 2013.
In a trading update for the six months ending December 29th the group said it expects 8% revenue growth in its bus division outside London.
MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
It said revenue growth remains resilient across all of its three rail franchises: Southern, Southeastern and London Midland. Total passenger revenue is forecast to be 8%, 13% and 13% respectively.
Chief Executive David Brown said: "I am pleased to report a resilient performance across our operations, with all of our companies seeing growth in commercial revenue in the year to date."
"Our bus division continues to perform well in a challenging economic environment and we are well placed to meet our target to achieve bus operating profit of £100m by 2015/2016."
"Whilst we remain suitably cautious about the medium term wider economic outlook, we are encouraged by our robust performance," it added.
Go-Ahead said it is in a good financial position with strong cash generation and a robust balance sheet, underpinning the dividend policy and allowing flexibility to pursue acquisitions.
CJ
-
DIY pension investors take tax-free cash amid switch to ISAsSelf-invested personal pension (SIPP) investors are rushing to withdraw their tax-free cash and turning to ISAs amid fears of a pension tax raid in the Autumn Budget
-
12 ways pensions could be reformed in Budget – including an alternative to charging IHTPension savers could face new rules after the Budget if chancellor Rachel Reeves targets their pots to fill her own fiscal black hole – what potential pension changes could be on the way?
