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Prices & Quotes - UK Markets - Go-Ahead Group (GOG)

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Share Price:
Up 851.00p
Change Today:
16.00p
Market Cap:
367.44m
Sector:
Travel & Leisure

Go-Ahead profit slightly better than guidance

By Sean Farrell

Date: Thursday 24 Sep 2020

LONDON (ShareCast) - (Sharecast News) - Go-Ahead predicted profit at its London and international bus division would be little changed as the transport operator reported group profit slightly better than its expectations.
Pre tax profit for the year to the end of June fell to 3.8m from 97m a year earlier as revenue rose to 3.9bn from 3.7bn under the IAS 17 accounting measure.

Go-Ahead took exceptional charges of 57.1m for impaired assets and restructuring at its regional bus and German rail operations, which were hit hard by the pandemic. Operating profit before exceptional items fell to 68.2m from 121.1m.

Regional bus operating profit more than halved to 20.5m from 44.5m as passenger numbers fell and restrictions were imposed during the crisis. Government support meant the business broke even since March.

London and international bus profit fell to 48.5m from 51.2m with revenue protected by contracts. Go-Ahead said it expected profit to similar this year.

Rail operating profit fell to 8.9m from 25.4m and was affected by problems at the German rail business. German rail contracts were not hit hard by the crisis but the business suffered from delayed train deliveries and driver shortages. The rain division should break even this year, Go-Ahead said.

Chief Executive David Brown said: "Our financial results for the year have been significantly impacted by the pandemic despite only four months of the crisis period falling within our financial year.

"We are pleased to see more and more people travelling on our buses and trains. Our regional bus services are now carrying around 50 to 60 per cent of normal passenger numbers, enabling us to contribute to economic recovery while supporting social distancing requirements."

Go-Ahead said its underlying business was generating cash and that cash and unused facilities had increased to about 240m now from 230m at the end of June.

The company's shares rose 1.7% to 645.5p. The shares are worth less than a third of their 22.08 value at the start of 2020.

Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

 

Go-Ahead Group Market Data

Currency UK Pounds
Price 851.00p
Change Today 16.00p
52 Week High 2,262.00p
52 Week Low 473.60p
Volume 92,041
Shares Issued 43.18m
Market Cap 367.44m

Performance Indicators

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What The Brokers Say

Strong Buy 7
Buy 0
Neutral 2
Sell 0
Strong Sell 0
Total 9
strong_buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

Go-Ahead Group Dividends

  Latest Previous
  Interim Final
Ex-Div n/a 31-Oct-19
Paid n/a 22-Nov-19
Amount 0.000p 71.91p

Trades for 02-Dec-2020

Time Volume / Share Price
15:13 35 @ 848.00p
15:07 25 @ 857.50p
15:05 3 @ 857.50p
14:52 20 @ 848.00p
14:51 122 @ 848.00p

Go-Ahead Group Key Personnel

Chair Clare Hollingsworth
CFO Elodie Brian