- Regional bus division volume is now over 85% of pre-pandemic levels
- London & International unit operating profit expected in line with pre-pandemic profit levels of £51.2m
- Regional bus operating profit expected ahead of prior two years
Go-Ahead Group reported its trading update on Monday, which saw passenger numbers recover and it’s fiscal 2022 in line with expectations.
Its regional bus divisions saw a steady recovery, with volume now over 85% of pre-pandemic levels. Furthermore, recovery in recent weeks has given the transport company confidence in passenger recovery ahead of the coming months.
The board now expects regional bus to deliver operating profit ahead of the prior two years. Transport is booming!
As for its UK Rail division, following the commencement of GTR’s new National Rail Contract, its National Rail division is expected to deliver operating profit of £25 million to £30 million.
Finally, in the London & International unit, operating profit is expected to be in line with pre-pandemic profit levels of £51.2 million.
“Passenger numbers on public transport have continued to recover from the pandemic and in certain parts of the UK, such as Manchester, our buses are as busy as they were before COVID-19,” stated Group Chief Executive, Christian Schreyer.
Schreyer continued, “We are encouraged to see so many people using buses and trains and we expect a busy summer ahead, particularly in tourist areas.”
Overall, the Group expects to report a good performance for the year ended 2nd July 2022.
However, its shares fell 1.5% on Monday despite an assured trading update.