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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