Go-Ahead’s growth continues

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Go-Ahead Group has released its half year results for the six months ended December 27, 2014.

Bus operating profit was up 8.4% to £45.1m, with overall operating profit improving by £3.2m to £55.3m, thought operating profit margin fell to 3.5% (down from 3.8%). Proposed interim dividend increased by 4.3% to 26.6p.

Revenue increased by £188.7m to £1,558.7m.

David Brown, Group Chief Executive, commented: “I am pleased with the Group’s financial performance in the first half of the year, with overall operating profit of £55.3m.

“Through our regional bus operations, Go-Ahead has kept people in towns and cities across the UK moving over the last three decades and we have heavily invested in our operations over this time. In the last five years we have invested over £170m in our regional bus services. Our passengers have given us a record 92% satisfaction score, reflecting the importance we place on listening to our customers, delivering value and responding innovatively to their evolving requirements. We firmly believe that public transport is best delivered through working in partnership, with strong alliances between operators and local authorities.

“Overall, the Board’s expectations for the full year results remain unchanged, with second half profits expected to be similar to those in the first half of the year for both our bus and rail divisions. The Group remains in a good financial position, with strong cash generation and a robust balance sheet supporting our progressive dividend policy and allowing flexibility to pursue value-adding opportunities.”