bus travel

PUBLIC transport firm Go Ahead Group said profits rose 14% in its last financial year, adding that its performance was “in line with expectation”.

The Newcastle business said a profit rise to £115.1m and a 6% jump in revenue from £2,167m to £2,297m was “further evidence of consumers switching from cars to public transport”.

The company is one of the largest bus operators in the UK, with around 21% of the market share in London, and has a 65% majority holding in Southern, Southeastern and London Midland rail franchise operator Govia.

Pre-tax profit for the year to July 2 was up 11.3% from £87.7m to £97.6m, and the company added the new financial year had “started well”.

Chairman Sir Patrick Brown said: “Despite facing challenging economic conditions in the last 12 months and the adverse weather in the first half of the year, all of our operations have seen growth in like-for-like passenger revenue and passenger journeys.

“Our bus and rail operations remain fundamentally strong and have benefited from passengers leaving their cars at home and choosing better value public transport alternatives.”

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