The chief executive of transport operator Go-Ahead says he is encouraged by the group's performance, despite a drop in operating profit.
North East-based Go-Ahead saw operating profit fall 24.5% from £56.4m to £42.6m in the six months to January 1, 2022 and revenue fall 13% from £2.07bn to £1.79bn as Christian Schreyer said all of the business' divisions were operating in-line with, or above, expectations.
Earlier this month Go-Ahead launched a growth strategy, aiming to turn the page on a troubled period in which it was found to have concealed funding relating to the London & South Eastern Railway (LSER) contract run as part of its Govia joint venture. It was fined £23.5m and ordered to pay back £64m owed to the taxpayer.
