The Go-Ahead Group plc (LON: GOG) has today announced its trading update for the period from 30 December 2018 to 5 June 2019. The next scheduled update is the Group’s full year results for the year ending 29 June 2019 which will be announced on 5 September 2019.
The year to date growth rates in this announcement are for the period from 1 July 2018 to 27 April 2019.
· High levels of punctuality across all divisions; record customer satisfaction in regional bus
· Full year expectations increased in the London and international bus division due to strong operational performance, including in Singapore and Dublin
· Growth in passenger volumes and revenues in all regional bus businesses, full year expectations broadly unchanged
· Southeastern continues to perform well; continued improvements in GTR operational performance
· German rail contracts launching this weekend following a four-year mobilisation period
Go-Ahead Group Chief Executive, David Brown, said:
“I’m pleased to report that we have delivered revenue growth in all three of our business divisions. This performance is driven by our commitment to continually improving services for our bus and rail customers and I’m delighted with our recent results in reliability and satisfaction levels.
“In bus, service performance levels in our London operations remain high resulting in continued growth in Quality Incentive Contract income. Service levels also remain high in our regional bus business, which recently achieved the industry’s highest ever customer satisfaction score of 92%, with Go-Ahead topping the league table for punctuality and journey time.
“In rail, Southeastern remains the best performing large UK train franchise, with the highest levels of punctuality in its history. Service levels at GTR continue to improve with punctuality for the month of April reaching 89.3%, a record level for the franchise, after nine consecutive months of year on year improvement.
“PickMeUp in Oxford is growing in popularity, with 25,000 people now registered to use our app-based service and over 130,000 journeys made since its launch in June 2018. On the back of this successful pilot, we have recently won a year-long contract from TfL across the borough of Sutton, in partnership with ViaVan.
“Our international bus operations in Singapore and Dublin are trading ahead of expectations, and we look forward to operating rail services in Germany from this weekend. Our international development teams continue to work on contract opportunities in our target markets and there is also a strong pipeline in these areas.”