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Public transport company Go-Ahead Group lifted its expectations for its London & international bus division, and kept its outlook on its rail division unchanged.
'Our expectations [for London & international bus division] for the year ending 3 July 2021 ... are now ahead of previous guidance,' the company said. This was driven largely by a 'one-off benefit due to the timing of recognition of quality incentive contract income.'
With 100% of revenue in this division generated through contracts, the company said it had good visibility of financial performance into the second half of the year.
The regional bus division was expected to make a positive contribution in the year, though ongoing uncertainty relating to the recovery of passenger demand 'prevents us from providing meaningful full year financial guidance for the division at this stage,' it added.
In its rail business, Go-Ahead said its expectations remained unchanged and it continued to anticipate a breakeven performance in the year ending 3 July 2021.
The company said that overall its financial outlook for the 2021 financial year has improved. At 8:07am: (LON:GOG) GoAhead Group PLC share price was 0p at 836p