Partner Article

Go-Ahead endures dip

Bus and rail firm Go-Ahead Group’s interim pre-tax profits fell 70.2% to £12m.Pre-tax profits before amortisation and exceptional items fell 16.5% to £50m.

The Newcastle company saw revenue in the six months to 2 January fall 4.5% to £1,097m and while operating profit fell 17.4% to £54.2m.

Net debt was reduced to £87m - down from a restated £182.5m a year ago.

Chairman Sir Patrick Brown said: “We remain cautious on the outlook for the UK economy and will continue to take management action accordingly.

“Second half results for our bus division are expected to remain robust, albeit at levels below the record first half of this year.”

This was posted in Bdaily's Members' News section by Ruth Mitchell .