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Go-Ahead poised to meet annual forecasts

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.

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.

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London operations are expected to show 17% growth, including the Olympics.

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

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