Share Name Share Symbol Market Type Share ISIN Share Description
Go-Ahead Group LSE:GOG London Ordinary Share GB0003753778 ORD 10P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  +0.00p +0.00% 1,777.00p 1,770.00p 1,776.00p 1,789.00p 1,753.00p 1,788.00p 65,612 16:35:21
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Travel & Leisure 3,361.3 99.8 162.3 10.9 765.47

Go-Ahead Group PLC London Midland franchise extension

17/07/2017 10:00am

UK Regulatory (RNS & others)


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Go-Ahead Group PLC

17 July 2017

 
 The Go-Ahead Group plc 4 Matthew 
  Parker Street, London, SW1H 9NP 
  Telephone 020 7799 8999 
 

PRESS RELEASE

17 July 2017

THE GO-AHEAD GROUP PLC

("GO-AHEAD" OR "THE GROUP")

London Midland franchise extension

The Department for Transport (DfT) has announced an eight-week extension to the current London Midland franchise, from 15 October to 10 December 2017, under the existing franchise terms. A further eight-week extension on the same terms may be granted, to 4 February 2018, should the DfT choose to exercise this option by 18 August 2017.

Govia, Go-Ahead's joint venture with Keolis (Go-Ahead 65%, Keolis 35%), has operated the franchise as London Midland since 2007.

Patrick Verwer, London Midland Managing Director, said:

"This extension means we can continue to build on the successes that have made this an international award winning franchise in recent years. Our focus will remain on delivering the best possible service to our passengers each and every day, and maintain strong levels of customer satisfaction."

Govia is shortlisted, along with one other bidder, for the new West Midlands franchise to be awarded by the DfT.

ENDS

For further information, please contact:

 
The Go-Ahead Group 
Holly Gillis, Head of Investor Relations                  020 7799 8984 
Sarah Boundy, Group Corporate Communications Director     020 7799 8983 
 
  Citigate Dewe Rogerson 
Michael Berkeley/Chris Barrie/ Eleni Menikou/Toby Moore    020 7638 9571 
 

LONDON MIDLAND

London Midland has been operating train services from London to Liverpool and across the West Midlands since 2007. The company's current contract began in April 2016 and was due to end in October 2017. During this time London Midland has invested GBP14 million in raising performance and introducing additional passenger benefits including industry-leading free on-train entertainment and WiFi. Since the start of 2017 London Midland has been named the country's most improved train company by the Institute of Rail Operators and Britain's most improved organisation for Customer Service by the UK Customer Service Institute. Investors in People has also upgraded the London Midland to Gold status, making the employer only the fourth train company to receive the rating. The company has also won two Corporate Social Responsibility awards this year for its work with communities.

GO-AHEAD

Go-Ahead is a leading UK public transport operator, providing high quality services in the bus and rail sectors. Employing around 29,000 people across the country, over one billion passenger journeys are undertaken on our services each year. We are committed to operating our companies in a safe, socially and environmentally responsible way and are proud to have been accredited with triple Carbon Trust Standard for reductions in carbon, water and waste. In addition to the travelling public, our customers include the Department for Transport, Transport for London (TfL) and local authorities.

BUS

Go-Ahead is one of the UK's largest bus operators. With a fleet of around 5,200 buses, we carry over two million passengers every day. Our operations are focused on high density commuter markets. We have a strong presence in London, with around 24 per cent market share, where we provide regulated services for TfL. Outside London, we operate services in Oxford, East Anglia, the South East, Southern and north east England. In September 2016, the Group began operating a bus contract in Singapore, on behalf of the Land Transport Authority.

RAIL

The rail operation, Govia, is 65 per cent owned by Go-Ahead and 35 per cent by Keolis. It is the largest rail operation in the UK, responsible for over 30 per cent of all UK passenger rail journeys through its rail franchises: GTR (Govia Thameslink Railway) Southeastern and London Midland.

Disclaimer

Certain statements included in this press release contain forward-looking information concerning the Group's strategy, operations, financial performance or condition, outlook, growth opportunities or circumstances in the sectors or markets in which the Group operates. By their nature, forward-looking statements involve uncertainty because they depend of future circumstances, and relate to events, not all of which are within the Group's control or can be produced by the Group. Although the Group believes that the expectations reflected in such forward-looking statements are reasonable, no assurance can be given that such expectations will prove to have been correct. Nothing in this press release should be construed as a profit forecast and no part of these results constitutes, or shall be taken to constitute, an invitation or inducement to invest in The Go-Ahead Group plc or any other entity, and must not be relied upon in any way in connection with any investment decision. Except as required by law, the Group undertakes no obligation to update any forward looking statement.

This information is provided by RNS

The company news service from the London Stock Exchange

END

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July 17, 2017 05:00 ET (09:00 GMT)

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