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+--- Thread: Go-Ahead Half Year Results 2014/15 (/showthread.php?tid=1397)
Go-Ahead Half Year Results 2014/15 - Dan - 19 Feb 2015
The Go-Ahead half year results for the six months ending 27 December 2014 have been published:
http://go-ahead.com/~/media/Files/G/Go-Ahead/media/news/2015news/half-year-results-presentations-19022015.pdf
Business Overview:
- Overall results in line with management expectations. Full year expectations are unchanged
- Bus operating profit up 8.4% to £45.1m, in line with strategic target
- Rail operating profit down 2.9% to £10.2m, with margins reducing to 0.9%. Contribution to the Government increased to £108.2m
- Challenging start to GTR franchise. Investment already underway to improve performance for passengers
- Working with Network Rail to minimise disruption to rail passengers during major infrastructure projects, in particular the £6.5 billion Thameslink Programme
- Proposed interim dividend increased by 4.3% to 26.6p (H1’14: 25.5p), in line with 2013/14 full year dividend increase
- Shortlisted for Northern and TransPennine Express franchises. Exploring overseas bus and rail opportunities
- Strong cashflow and reduction in adjusted net debt
RE: Go-Ahead Half Year Results 2014/15 - Andreos1 - 10 Sep 2015
http://tools.euroland.com/tools/PressReleases/GetPressRelease/?ID=3168077&lang=en-GB&companycode=services
Link to full year results.
Overview:
FINANCIAL STRENGTH
• Overall profits up 11.1%, slightly ahead of our expectations as a result of a stronger performance in rail
• Record bus profits, up 6.6%
• Improvement in rail profits albeit at historically low margins
• Continued strong free cashflow and robust balance sheet
• Proposed full year dividend up 6.5% to 90.0p in line with our progressive policy
STRATEGIC AND OPERATIONAL PROGRESS
• Continued progress in bus division with sector-leading customer satisfaction in regional bus operations
• Expect to deliver £100m of bus operating profit in 2016/17, a year later than originally anticipated
• Record passenger numbers in rail division
• Group's net increase in contributions to the DfT in the year was £191.9m, up to £255.9m
• Challenging start in GTR - working closely with industry partners to improve performance and manage contract changes
• Submitted bids for Northern and TransPennine Express rail franchises and shortlisted for the London Overground contract
• Continue to explore selective opportunities in overseas markets