Department for Transport announces financial penalty in relation to London & South Eastern Railway Ltd

Go-Ahead announces that the Department for Transport (DfT) has stated that it has issued a £23.5m penalty notice to London & Southeastern Railway Ltd (LSER) in respect of good faith contraventions of LSER franchise agreements.

In its results for the year ended 3 July 2021, published on 24 February 2022, the Group recognised a provision of £30.0m in its accounts in respect of a potential financial penalty from the DfT in relation to LSER.

The amount payable to the DfT is expected to be settled from LSER’s restricted cash balance.