5 May 2011

Petrol prices boost profits at Go-Ahead

Public transport firm Go-Ahead has reported a surge in passengers numbers as high petrol prices have forced motorists to ditch their cars. The Newcastle-based company, which operates three train franchises - Southern, Southeastern and London Midland - and eight bus companies, said it had seen ‘impressive growth’ across all its businesses.
In the most recent quarter, Go-Ahead said passenger numbers on its deregulated bus services jumped by 7.2 per cent, leading to an 8.3 per cent rise in underlying revenues.
The company's bus services include Metrobus in Sussex, Plymouth Citybus and the Oxford Bus Company. Go-Ahead shares jumped more than 7 per cent following today's update.

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