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Bus and train operator Go-Ahead group said slightly reduced tits its full year expectations as cost pressures and adverse weather in its regional bus business offset a uptick in revenue in the first half of the year. The company also warned that travel patterns were likely to be impacted in the second half of the year.
For the six months ended 28 December, pre-tax profit fell to £49m from £61m on-year as revenue grew 2.3% in the period.
Bus operating profit was down 3.4% at £45.3m reflecting 'strong performance in London & international division mitigated a weaker regional bus result, the company said.
'As a result of lower than anticipated profitability in our regional bus business in the first half of the year, combined with the impact of adverse weather in recent weeks, our overall expectations for the full year have reduced slightly,' it added.
At 9:12am: (LON:GOG) GoAhead Group PLC share price was -347p at 1335p