As negotiations continue over a possible take-over, the Go-Ahead Group has issued an update on its trading to the year ending 2 July. The Group reports that its regional bus division has continued to see a steady recovery in passenger demand, with commercial volumes across the business now over 85% of pre-pandemic levels. Some areas have seen particularly encouraging volumes in recent weeks, the form said, with pre-pandemic volumes being recorded on some days, giving confidence in the continuation of passenger recovery in the coming months.
Go-Ahead’s Board expects its regional bus division to deliver operating profit ahead of that of the prior two years.
The Group’s London and international bus division will benefit from performance that is ahead of plan in London and Singapore, and is now expected to deliver operating profit at least in line with pre-pandemic underlying profitability levels.
In its rail operations, the UK Rail division is expected to deliver operating profit within the range set out in the Group’s interim results of £25m to £30m. Internationally, the rail division expects to deliver an operating loss before exceptional items within the range set out in the Group’s interim results of £15m to £20m.
The Group reports a strong balance sheet and good liquidity. Christian Schreyer, Group Chief Executive, said: “Passenger numbers on public transport have continued to recover from the pandemic and in certain parts of the UK, such as Manchester, our buses are as busy as they were before Covid-19. We are encouraged to see so many people using buses and trains and we expect a busy summer ahead, particularly in tourist areas.”
