BUS INVESTOR EVENT AND INTERIM MANAGEMENT STATEMENT
Bus Investor Event
The Go-Ahead Group plc is hosting a Bus Investor Event this morning in which it will announce a target to organically grow bus operating profit* to £100m by 2015/2016. This will be achieved through a combination of revenue growth driven by high quality services, innovation and marketing, and cost efficiency.
No other new financial information will be disclosed at the event.
Interim Management Statement - strong trading; no change to full year expectations
Go-Ahead today announces its Interim Management Statement for the period from 1 July 2012 to 17 October 2012, ahead of its Annual General Meeting on 25 October 2012.
Overall:
Strong trading has continued into the first quarter of the year and our expectations for the full year to 29 June 2013 remain unchanged.
David Brown, Group Chief Executive of Go-Ahead, said:
"I am pleased to report strong growth across our regulated and deregulated bus businesses, demonstrating the effectiveness of the Group's strategy of providing high quality, cost efficient and locally focused bus services.
"We believe there is significant potential to grow this core part of our business and today have announced a target to organically grow bus operating profit* to £100m by 2015/2016.
"We remain committed to operating in the UK rail market and are pleased to report strong underlying growth in passenger revenue across our three franchises.
"Following the Department for Transport's announcement regarding the postponement of current rail franchise competitions and a review of the franchising process, Go-Ahead looks forward to working with the review team to help shape the future of UK rail franchising.
"The London 2012 Games took place during the first quarter of our financial year and I am really proud of the key role Go-Ahead played in helping to deliver a highly successful transport network for the Olympics and Paralympics.
"Whilst we are encouraged by our performance in the first quarter, we remain suitably cautious about the medium term wider economic outlook."
