September 5, 2019 / 6:47 AM / 3 months ago

Go-Ahead annual revenue beats estimates, railway unit hits profit

(Reuters) - UK transport company Go-Ahead Group Plc (GOG.L) on Thursday reported full-year revenue that beat market expectations, but profit was dented as its rail division suffered from the loss of the London Midland franchise.

Go-Ahead said revenue rose because of its bus operations in Singapore and new operations in Ireland.

Analysts on an average expected annual revenue of 3.44 billion pounds, according to Refinitiv Eikon data.

The company said it expects lower operating profit for its rail division in 2020. But the Govia Thameslink Railway franchise, which includes Thameslink and Southern services between London and the south coast, is expected to generate a modest profit margin in 2020, the company said.

Go-Ahead said revenue rose 10% to 3.81 billion pounds, however, pretax profit tumbled 33.4% to 97 million pounds for the year ended June 29.

Reporting by Samantha Machado and Yadarisa Shabong in Bengaluru; Editing by Sriraj Kalluvila, Bernard Orr

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