UK Go-Ahead sees profits improve as travel demand picks up By Reuters

© Reuters. FILE PHOTO: A Go Ahead bus crosses Westminster Bridge in London, Britain August 29, 2015. REUTERS / Neil Hall / File Photo

(Reuters) – UK group Go-Ahead (LON 🙂 said on Thursday its annual outlook “had improved” as rising vaccination rates pushed up passenger volumes for its bus and passenger services. train at the highest since the start of the pandemic, raising its shares by 4%.

Without providing figures for its outlook for the year ending July 3, the company said earnings expectations for its London and international bus units had also risen.

Bus and rail operators were hit hard last year as multiple closures in England hampered non-essential travel, with people avoiding public transport for fear of contracting the virus. But Britain has opened up as COVID-19 vaccines are rolled out.

Passenger volumes for regional bus services were currently around 65% to 70% of levels seen before the global health crisis, the London-listed transport operator said.

Go-Ahead also said it is working towards paying a dividend at an “appropriate level” in 2021.

The company said it expects to have more than 270 million pounds ($ 381.11 million) in cash on hand and unused loans by the end of the year.

“As we emerge from the pandemic, public transport has a huge role to play in economic recovery; and an equally important role in tackling climate change as we encourage more people to use our services and to s ‘keep away from private cars,’ said chief executive David Brown. .

($ 1 = 0.7085 pounds)

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