BUS and train operator Go-Ahead Group said it was confident of hitting full-year profit targets – despite a slowdown in rail revenues.
Passenger revenues at its three rail franchises – Southern, which includes Gatwick Express; Southeastern and London Midland – continued to rise in the third quarter of its financial year, but at a slower rate than in the previous six months.
The update comes after Go-Ahead said it was braced for a slowdown in rail revenues as the recession and rising unemployment hit demand.
Go-Ahead has sought to cut costs, including shedding jobs, to counter an expected fall in passenger growth. It said that cost-savings are “progressing as planned.”
The group said passenger numbers rose in all three franchises.