Operating profits for Go-Ahead Group’s rail division fell by £19.1 million in 2018-19 to £25.4m, blamed largely on the loss of the London Midland franchise in December 2017.
In its full year results published on September 5, the group says profit margins are at “historically low levels, impacted in particular by Govia Thameslink Railway”.
Total revenue was £2.8 billion, an 11% increase on the previous year, but operating profit margins halved by 0.9 percentage points to 0.9%. However, revenue growth increased by 2.2pp to 6% on Southeastern, and by 0.3pp to 8% on GTR.
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AndrewJG8918 - 25/09/2019 03:32
Govia is set lose its Southeastern franchise next year. With rival rail companies ie-Abellio, MTR, Trenitalia and Arriva that are or might be interested in taking over the Southeastern franchise. As Southeastern celebrates its 10 years of high-speed train service. Since the new high speed service with Class 395 Javelin EMUs that were built for the Kent high speed domestic rail service between London St. Pancras International and destinations in Kent such as Folkestone, Canterbury, Maidstone, Rochester, Dover Priory and Rochester via Ebbsfleet International and Ashford International.