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Railhub Archive
2018-05-24 GOA-001
Go-Ahead Group

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Trading statement


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Department for Transport
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Go-Ahead Group plc
GoAhead Group
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Southeastern



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Go-Ahead Group

Trading statement
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date
24 May 2018
source Go-Ahead Group
type Press release



TRADING STATEMENT FOR THE PERIOD FROM 31 DECEMBER 2017 TO 23 MAY 2018

The Go-Ahead Group plc today announces its trading update for the period from 31 December 2017 to 23 May 2018. The next scheduled market update is the Group’s full year results for the year ending 30 June 2018 which will be released on 6 September 2018.

The year to date growth rates shown in this statement are for the period from 2 July 2017 to 28 April 2018.

Overview

o Overall full year expectations for bus unchanged; uplift in rail
o Record customer satisfaction in our regional bus business
o London bus expectations improved, with strong Quality Incentive Contract income in the period
o Successful bid for a second bus tender in Dublin
o Southeastern franchise extended to April 2019; bid submitted for new franchise

Go-Ahead Group Chief Executive, David Brown, said:

“In a challenging market environment with reduced retail footfall and pressures on local authority
budgets, our businesses have performed well overall.

“In bus, our London operations have seen an improvement in service performance resulting in higher Quality Incentive Contract income. Revenue and passenger trends remain mixed across our regional bus businesses.

“In rail, trading has been good in the period, largely due to efficiency improvements and helped by the resumption of full Southeastern services through London Bridge station. In partnership with the industry, this week we began the introduction of the largest timetable change in decades. The modernisation of the network will lead to new routes, greater connectivity and increased peak frequency through central London with the new technology of automatic train operation.

“As part of our strategy to develop for the future of transport, we announced the UK’s largest demand responsive trial of high-quality minibuses in Oxford - called ‘Pick Me Up’ - which will begin operating next month. Passengers will use an app to route journeys according to their needs. We are also working with logistics partners including a pilot at our Crawley depot to manage deliveries in the area.

“The Board is confident the Group will deliver full year results that are slightly ahead of its previous
expectations.”

[[for continuation see related document]]


Railhub Archive ::: 2018-05-24 GOA-001





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