A push into smartcard ticketing and more passengers for Go-Ahead’s Southern franchise have put the rail and bus operator on track to beat City forecasts, the firm said today.
Go-Ahead said the performance of Southern, which runs services out of London Bridge and Victoria to destinations including Brighton and Southampton, had been stronger than expected during the last three months, helped by the launch of “the key” on Southern services, enabling passengers to travel on trains and Transport for London services using just their smartcard.
Passenger revenues excluding the Olympics are currently 7% up on last year as the Gatwick Express — also included in the Southern franchise — has shown signs of revival, the company said. Go-Ahead also operates the Southeastern and London Midland rail franchises.
Analysts expect the group to post full-year pre-tax profit of £69 million. Investec’s John Lawson raised his forecast by 4% to £71 million.
“Whilst a journey to say Brighton is not as attractive as the fictional trip to the North Pole, it is good to see this franchise improving,” he said.
