Member Article

Bus operator on target to make £100 million profit

Bus and rail operator Go-Ahead says it is on target to reach £100 million operating profit by 2015/16, as it reveals a 30% increase in profits over the second half of 2013.

The Newcastle-headquartered firm generated £1.4 billion revenue from a record number of bus and rail passengers, and made pre-tax profit of £40.3 million.

During the period Go-Ahead submitted bids for the Thameslink and Crossrail franchise.

David Brown, Group chief executive, said: “In October 2012 we set out a three year plan of growth and business improvement with the aim of raising the performance of our UK bus business to £100 million in operating profit.

“We are making good progress, and 16 months into that timetable, our planning assumptions remain valid and we are on course for our target.

“Meanwhile we maintain our long-term commitment to rail and were pleased to have submitted our bids for the Thameslink and Crossrail franchise competitions during the period.”

This was posted in Bdaily's Members' News section by Tom Keighley .