The Go-Ahead Group said it has recovered from the adverse weather which impact on its operations earlier in the year and is back on track to report better results in September – the firm announced in its pre-close trading update for the year ending June 29, 2013.
David Brown, Group CEO, said: “I am pleased to report continuing resilience across our operations. Both our bus and rail divisions have seen improved growth in passenger numbers in recent weeks, following the effect of adverse weather previously reported in the third quarter.
“Our bus division continues to trade well and is on track to deliver a better than expected result for the full year as we start to see the benefits of cost initiatives coupled with continued revenue growth. We are making good progress towards our target to organically grow bus operating profit to £100m by 2015/16.
“While our overall expectations for the full year remain unchanged, we now expect a greater proportion of Group operating profit to come from the bus division.”
Some of the ‘cost initiatives’ announced in the firm’s half year results have been delivered ahead of plan and the bus division is now on track to deliver a better than expected result for the full year.