London Midland delivers strong performance for parent group

A STRONG performance from rail franchise London Midlands has helped to boost the fortunes of its parent group, Go-Ahead.

The franchise has seen a 9.5% increase in year-to-date passenger revenue, while passenger journeys are also up 5%.

In a Q3 trading update, Go-Ahead said: “London Midland delivered another good trading performance. Since April 1, 2016 the franchise has been operating under a new direct award contract.

“Management is focused on ensuring that committed obligations are in process and delivered in a timely manner.”

It said that after the end of the third quarter, Go-Ahead had been shortlisted to bid for the new West Midlands franchise, beginning October 2017.

David Brown, Group Chief Executive of Go-Ahead, said: “Overall trading performance has been satisfactory and our full year expectations for both bus and rail operations remain unchanged.
 
“We continue to make progress in our bus division. Our locally-run bus companies work in partnership with local authorities and are focused on the needs of the communities they serve. We are proud of our high levels of customer satisfaction, which at 89% remain sector-leading.
 
“In our rail division overall underlying trading remains in line with our expectations.”