Go-Ahead has reported a 25 per cent rise in pre-tax profits ahead of the start of the Thameslink, Southern and Great Northern (TSGN) franchise later this month.
The operator recorded record rail passenger numbers in its full year results as well as a 5.1 per cent increase in revenues to £2.7 billion.
Go-Ahead is currently bidding for the Northern and TransPennine Express rail franchises. Despite winning the TSGN franchise, the operator did lose out to MTR for the Crossrail operating concession, for which it had submitted a joint bid with Keolis.
David Brown, group chief executive, said: “The group is in a very good financial position, with strong cash management allowing us to increase investment while reducing our net debt during the year. Our robust balance sheet supports our progressive dividend policy and allows us flexibility to pursue value adding opportunities.”
