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Go Ahead upgrades outlook on stronger profit in London & International division
StockMarketWire.com
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Bus company Go Ahead upgraded its full-year guidance after its London & International bus business secured all its expected revenue for the current year following successful contract bidding.
'Our financial performance has been resilient, and our full year expectations have increased as a result of stronger profitability in our London & International division,' the company said.
For the six months ended 2 January, adjusted operating profit fell to £56.1 million from £60.0 million year-on-year, while revenue was up 3.1% to £2070.2 million.
The regional bus operating profit fell to £12.3 million from £19.1 million owing to the impact of COVID-19 on passenger revenue mitigated by the Government's support for maintaining bus services.
Total rail revenue increased by 3.6% to £1,520.1m, but operating profit fell to £6.5 million from £14.7 million.
'Overall, in 2021, we continue to expect the rail division to deliver a breakeven operating result before exceptional items,' the company said.
At 8:05am: (LON:GOG) GoAhead Group PLC share price was 0p at 836p
Story provided by StockMarketWire.com
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