Edition:
United States

Go-Ahead posts ‍FY operating profit of 150.6 mln pounds


Thursday, 7 Sep 2017 02:00am EDT 

Sept 7 (Reuters) - GO-AHEAD GROUP PLC ::FY REVENUE ROSE 3.6 PERCENT TO 3.481 BILLION STG.‍RESULTS IN LINE WITH EXPECTATIONS​.‍PROPOSED FINAL DIVIDEND INCREASE OF 6.5%, IN LINE WITH RISE IN INTERIM DIVIDEND, RESULTING IN A FULL YEAR DIVIDEND OF 102.08P​.‍FY BUS AND RAIL OPERATING PROFIT AT £90.7M (2016: £91.2M) AND £59.9M (2016 RESTATED: £71.4M)​.‍AGREEMENT REACHED IN JULY WITH DFT ON GTR CONTRACTUAL VARIATIONS RELATING TO INDUSTRIAL ACTION HAS REDUCED FINANCIAL UNCERTAINTY​.‍PROGRESSING TOWARDS A NEW TARGET FOR INTERNATIONAL OPERATIONS TO CONTRIBUTE 15% TO 20% OF GROUP PROFIT WITHIN FIVE YEARS​.‍ACTIVELY EXPLORING FURTHER BUS AND RAIL OPPORTUNITIES IN NORDIC REGION AND AUSTRALIA​.‍FY OPERATING PROFIT 150.6 MILLION STG VERSUS 162.6 MILLION STG YEAR AGO​.INTERNATIONAL PROGRESS WILL SEE SOME OF LOST REVENUE FROM LONDON MIDLAND FRANCHISE REPLACED WITH CONTRACTS IN SINGAPORE BUS, DUBLIN BUS AND GERMAN RAIL​.‍REGIONAL BUS TRADING IN EARLY PART OF YEAR HAS BEEN CONSISTENT WITH Q4 OF PRIOR YEAR​.‍EXPECT A SLIGHT IMPROVEMENT IN REGIONAL BUS PERFORMANCE AS ONE-OFF COSTS IN 2016/17 NO LONGER IMPACT RESULTS​.‍OUTCOMES OF DISCUSSIONS, RELATING TO EVENTS UP TO 1 JULY, IS THAT IMPACT ON RAIL PROFITABILITY IS LIKELY TO BE WITHIN A RANGE OF PLUS OR MINUS £5M​.‍RECENT OUTCOMES REDUCES OUR EXPECTATIONS OF RAIL DIVISION PROFITABILITY FOR CURRENT FINANCIAL YEAR​.