07 September 2007
Go-Ahead is one of the UK's leading providers of passenger transport services operating in the bus, rail and aviation sectors. Employing approximately 25,000 staff across the country, over 875 million passenger journeys are undertaken on its services each year. In addition to the travelling public, customers include Transport for London, BAA, major airlines, local authorities and the Department for Transport.
- Revenue increased to £1,826.9m (2006 - £1,463.6m)
- Operating profit before amortisation, exceptional items and tax rose to £118.1m (2006 - £97.8m)
- Profit before amortisation, exceptional items and tax increased by 19.8% to £110.1m (2006 - £91.9m)
- Profit before tax increased by 13.4% to £94.8m (2006 - £83.6m)
- Adjusted earnings per share before amortisation and exceptional items increased to 140.7p (2006 - 118.4p)
- Final dividend of 47p per share is proposed, taking the total dividend to 70p, an increase of 25% (2006 – 56p)
- Bus division continues to grow organically and by acquisition
- Excellent performance in the rail division
- Award of London Midland rail franchise commencing on 11 November 2007
- Gatwick Express to be incorporated into the Southern franchise from May 2008
- Challenging year for aviation services division
Commenting on Go-Ahead's strategy and prospects, Chairman, Sir Patrick Brown said:
"This has been a record year for the group and the new financial year has started in line with the board's expectations. Our aim is to continue with our strategy which combines organic and acquisitive growth with financial discipline and improving returns to shareholders. We are well positioned to make further progress in the new year."
For further information, please contact:
The Go-Ahead Group plc
Keith Ludeman, Group Chief Executive 7 September: 0207 067 0700
Nick Swift, Group Finance Director Thereafter: 0208 929 8650 / 0191 232 3123
Weber Shandwick Financial 020 7067 0700
Richard Hews/ Stephanie Badjonat/ Hannah Marwood
An analysts' presentation will be held at 9.30am at Weber Shandwick Financial's offices, Fox Court, 14 Gray's Inn Road, London, WC1X 8WS. Copies of the presentation will be available on the Company's website: www.go-ahead.com
Photography taken at Victoria Station of Keith Ludeman and Nick Swift can be downloaded at www.fovea.tv
Notes to Editors
The group's bus division operates over 3,500 buses, providing over 540 million passenger journeys and covering around 238 million vehicle kilometres each year. Operations fall into four main geographical areas: deregulated services in the north east, the West Midlands, south east and southern England and regulated services for TfL in London. The newest additions to this division are Docklands Minibuses and Blue Triangle, acquired during this financial year, which operate as part of our London bus operations, and Marchwood which operates in Southampton.
The group's rail division operates a fleet of around 630 trains which provide over 280 million passenger journeys. Concentrated in the south east of England both our Southern and Southeastern franchises operate a mix of suburban commuter and mainline routes throughout south London, Kent, Surrey and Sussex. The Southeastern franchise will include the operation of new high speed trains on domestic services on the Channel Tunnel Rail Link into St Pancras from 2009. From May 2008, the Gatwick Express will be included in the Southern franchise. Go-Ahead will operate the West Midlands franchise, to be known as London Midland, from November 2007.
The group's aviation services division undertakes a wide range of support services for national and international airlines. Services provided include cargo handling, passenger check-in, baggage handling, information desks, executive lounges, ground handling and customs clearance. In the last year services covered around 44 million passengers as well as over 450,000 aircraft movements. The division includes Meteor Parking which is the second largest parking company in the UK, managing over 65,000 parking spaces predominantly at BAA airports, with a range of customers, including BAA, local authorities, retail outlets, NHS trusts, hotels and rail stations. Well known brands include Pink Elephant, Park 1 and eparking.