Member Article

Go-Ahead report strong performance despite profit falls

Newcastle-based transport firm Go-Ahead reported a 3.4% fall in pre-tax group profits in its full-year report for 2012.

Go-Ahead own bus and rail transport businesses around the UK, including Go North East which operates in Tyne and Wear, County Durham, Northumberland and Teesside.

Company revenues decreased by £126.8m to £2,423.8, showing a 5.5% fall, while operating profits dropped by £4.9m.

The group remained positive despite these figures, and said the business had made progress in difficult economic conditions.

Go-Ahead’s chief executive David Brown praised growth throughout its bus and rail companies, and applauded efforts to meet demand during the Olympics Games this summer.

He commented: “Despite the challenges facing the economy, the new financial year has started well and trading is in line with the Board’s expectations. We operate in a market that has many fundamental strengths and we are well placed to benefit from the growing need for a sustainable and efficient public transport system.”

“Against a challenging economic backdrop, we have continued to drive growth across our bus and rail companies and carried a record number of passengers on our services.

“The year also saw the Group’s largest ever investment in our bus fleet and the roll-out of “the key” smartcard across our bus operations outside London.”

The bus and rail operator experienced its highest levels of passengers ever this year, and invested £80m in a new bus fleet.

This was posted in Bdaily's Members' News section by Miranda Dobson .