Go Ahead results ahead of expectations, despite dip in profits

Public Transport provider, Go-Ahead, which run the largest bus company in the North East, has reported an £8m profit loss for the year ended June 29

A Go North East Bus, part of the Go-Ahead company
A Go North East Bus, part of the Go-Ahead company

Public Transport provider, Go-Ahead, which run the largest bus company in the North East, has reported an £8m profit loss for the year ended June 29.

Full year results for the period showed profit before tax dropped from £94.2m to £86.2, while revenue rose £148m to around £2.57bn.

Over a billion people travel on Go-Ahead buses and trains each year.

Go North East has a fleet of nearly 700 buses and employs more than 2,100 people.

Group chief executive David Brown said: "I am very pleased with the Group's performance this year.

"We are reporting a good set of results, slightly ahead of the board's expectations, and are progressing well towards our bus operating profit target."

The group remained in a good financial position with strong cash generation and a robust balance sheet, he added.

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