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Chatty Bus (50)

Mental health first aiders provide valuable support to Go-Ahead transport workers

  • Mental health first aiders at each Go-Ahead bus company trained to provide reassurance and support
  • Regional bus and rail companies undertake community initiatives to mark mental health week
  • Brighter Journeys campaign aims to lift the spirits of travellers across national rail
Go North East electric bus in Newcastle

Half year results for the six months ended 1 January 2022

  • Encouraging underlying financial performance and passenger volume recovery as Go-Ahead emerges from a challenging period
  • Group operating profit (before exceptional items*) of £42.6m (H1’21: £56.4m restated). H1'21 included non-recurring items totalling £20.2m**
  • Excluding these items, like-for-like operating profit increased by £6.4m, up 17.7%
  • Regional Bus reverts to more commercial model as passenger numbers rebuild – currently above 80% of pre-pandemic levels
  • Resilient results from London & International Bus
  • UK Rail performance primarily reflects end of Southeastern contract
  • Management action reduces losses in International Rail
  • Statutory profit before tax of £50.1m (H1’21: £50.3m restated) includes a net exceptional credit of £13.0m, primarily relating to the expected
    settlement of the financial penalty relating to London & South Eastern Railway and associated matters of concern
  • Strong balance sheet and significant liquidity: adjusted net debt of £217.3m (3 July 2021: £305.9m) and available cash and headroom on facilities
    of £329.3m (3 July 2021: £240.3m). Adjusted net debt to EBITDA ratio of 1.21x (3 July 2021: 1.56x) providing significant capacity for investment
  • Launched new strategy “The Next Billion Journeys” and medium-term financial targets, including growth in Group operating profit to at least £150m
  • The Group will reinstate its pre-COVID-19 dividend policy of paying a dividend to shareholders equivalent to between 50% and 75% of underlying earnings per share from the 2022 full year and the board intends to recommend a dividend of not less than 50 pence per share in respect of the year ending 2 July 2022 in line with this policy
  • Trading in the second half of the year to date is robust and the Board now anticipates a full year result ahead of its previous expectations
    *Before exceptional net credit of £13.0m (H1'21: £4.9m credit). Details are provided in note 5 to the financial statements
    **H1'21 included £7.2m of CBSSG funding revenue and a £3.8m performance fee in GTR both relating to the 2020 financial year, and a £9.2m one-off timing benefit relating to Quality incentive
    contract (QIC) recognition
Go Cornwall Bus Newquay 11

Bus fares cut across Cornwall as Go-Ahead delivers trailblazing low fares pilot

  • Ticket prices across Cornwall cut by between 20% and 40% from April 10
  • Government-backed scheme will measure impact on travel habits across the county over four years
  • Visitors to Cornwall will benefit from cheaper buses in tourist areas this summer