Go-Ahead profits in line with expectations
Go-Ahead Group Plc, the operator of busses and trains, has reported a 14.5 per cent rise in first half underlying profit to 58.3 million, in line with expectations.
Diageo spirits up after earnings riseThe company said its revenues in the period were up 12.3 per cent to 1,027.9 million and that it was proposing an interim dividend of 25.5 pence per share.
Go-Ahead said that demand for its services "remained strong" and that revenue in its bus, rail and aviation services had increased. The company also noted that three new bus operations were acquired during its first half and that its London Midland Rail franchise had begun on 11 November 2007.
Sir Patrick Brown, Chairman of Go-Ahead, said, "To date, demand trends remain favourable. We intend to make further progress in our bus division, although this is likely to be adversely affected by increased fuel costs. In rail, whilst passenger growth continues, reduced subsidies and increased profit share are expected to result in a full year operating profit below last year. In aviation services, our aim is to continue the progress made in the first half to restore the businesses to profit.
He continued, "Overall, we expect to deliver another good set of results for the second half of this year."
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