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Go-Ahead slips into red on asset writedowns, virus impact

By BFN News | 10:09 AM | Thursday 24 September, 2020


Transport services company Go-Ahead swung to a loss on asset writedowns in its regional bus division and German rail operations, while the impact of Covid-19 also weighed. For the year ended 30 June, pre-tax losses were £0.2 million compared with a profit of £97m year-on-year, while revenue was up 6.1% to £3.9 billion. The company recorded an exceptional cost of £57.1m; £26.7m from its regional bus division and £30.4m from its German rail division. 'For the 2021 financial year, we expect our London & International bus division to generate operating profit similar to that achieved in the 2020 financial year. Our rail division is expected to deliver a breakeven operating result in 2021,' the company said. At 10:09am: (LON:GOG) GoAhead Group PLC share price was +21p at 656p Story provided by StockMarketWire.com

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