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Go-Ahead beats expectations at half-year

Go-Ahead beats expectations at half-year

Shares in Go-Ahead Group (GOG) recorded a double-digit increase on results day, which must have been a welcome relief to management since the market valuation has been on a downward trajectory over the past couple of years. UK investors have become somewhat pessimistic about listed transport operators, and so expectations-beating results in the rail division came as a pleasant surprise. At the full-year results in September, chief financial officer Patrick Butcher said UK rail margins were at “historically low levels”, but since then the operating profit margin has improved by 90 basis points to 3 per cent thanks to a recovery in the GTR division, which includes Southern Rail, Gatwick Express, Thameslink and Great Northern.

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