Go-Ahead on right road to meet expectations
Bus and trains operator Go-Ahead Group reported a solid first quarter, with growth seen in both parts of the business, leaving it on track to meet full year expectations.
Bus and trains operator Go-Ahead Group reported a solid first quarter, with growth seen in both parts of the business, leaving it on track to meet full year expectations.
Outside London, the company's year-to-date revenue, excluding acquisitions, increased by around 4%, with passenger numbers up by around 3%, although a recent weaker concessionary performance offset stronger growth in fare-paying passengers. In London, year-to-date revenue and mileage rose by over 4% and 2%, respectively.
In the rail division, Southern achieved growth in passenger revenue of around 9% as passenger journeys rose by more than 2% year-on-year. In the Southeastern division, passenger revenue was up over 10% and passenger journeys increased by almost 2%. London Midland saw strong passenger revenue growth of over 13% with passenger numbers up around 8%.
Subscribe to 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
In a statement the company said: "Overall, trading in the third quarter has been solid and, whilst we continue to be cautious about the wider economic outlook, we remain confident that we will deliver a full year result in line with our expectations.
Due to recent acquisitions in the group's bus division, year end net debt is expected to be higher than previously anticipated at around £95m. The group seemed sanguine about the debt position, emphasising that it remains in a good financial position with strong cash generation, enabling it to continue churning out the divis while looking for suitable acquisitions.
NR
Sign up for MoneyWeek's newsletters
Get the latest financial news, insights and expert analysis from our award-winning MoneyWeek team, to help you understand what really matters when it comes to your finances.
-
UK-US trade deal announced: US cuts tariffs on UK car imports to 10%
Keir Starmer and Donald Trump have announced a UK-US trade deal, but the US president has refused to lift baseline tariffs on most UK goods. What does it mean for the UK?
-
How to use mid-caps to diversify from the US
Medium sized companies are overlooked by investors but could offer an attractive ‘sweet spot’. We consider the case for mid-caps amid market volatility.