The Go-Ahead Group trading update for the year ending 3 July 2021
The Go-Ahead Group today provides a trading update for the year ending 3 July 2021, ahead of the Group’s full year results scheduled to be announced on 9 September 2021.
- Highest passenger volumes since start of pandemic; currently around 65 to 70 per cent of precrisis levels in regional bus
- Robust trading performance across all divisions; full year expectations increased for London & International bus division
- Strong balance sheet and cash generation ahead of previous expectations; leverage expected to be towards the bottom end of the 1.5 to 2.5 times target range at year end
- Bus and rail high on UK Government agenda with publication of ‘Bus Back Better’ national bus strategy and £3bn funding commitment, and Williams-Shapps Rail review
- Public transport remains critical to environmental sustainability, economic recovery, the delivery of health and wellbeing outcomes, and keeping communities connected
Go-Ahead Group Chief Executive, David Brown, said: “After more than a year of COVID-19 restrictions limiting travel, it is great to see our buses and trains carrying more passengers as these restrictions start to ease and people enjoy the benefits of communities and businesses reopening. There are more people using our services today than at any point over the pandemic and we are ready to safely welcome more people back to our buses and trains."
“In recent weeks, we have welcomed the Government’s ‘Bus Back Better’ national bus strategy and the Williams-Shapps Rail Review, putting public transport high on the Government’s agenda. As we emerge from the pandemic, public transport has a huge role to play in economic recovery; and an equally important role in tackling climate change as we encourage more people onto our services and away from private cars. Go-Ahead is in a strong position, with a central role in the provision of a flexible, reliable and customer-focused public transport network."
“As well as attracting more people to our buses and trains, we are also committed to reducing our own environmental impact and have committed to setting ambitious Science Based Targets, details of which I look forward to sharing in the coming months.”