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MarketScreener Homepage  >  Equities  >  London Stock Exchange  >  The Go-Ahead Group plc    GOG   GB0003753778

THE GO-AHEAD GROUP PLC

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Go Ahead : warns coronavirus will hit profit, shares slump

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05/22/2020 | 03:14am EDT
FILE PHOTO: A Go Ahead bus crosses Westminster Bridge in London

Britain's Go-Ahead Group warned that the impact of the novel coronavirus would hit profits this year, and uncertainty around the use of public transport once lockdown eases means it cannot provide guidance on its new financial year.

The group's shares fell 16% in early trading to 1,012 pence.

In Britain, Go-Ahead's main market, the government is providing financial support to companies who operate public transport so they keep services running despite lower use during the coronavirus pandemic.

Even with that help, the company said profits would drop compared to last year, and it was working to try to cut costs. A rail contract in Germany was challenging and would also drag on profit, hampered by driver shortages and reliability issues.

Go-Ahead forecast that group operating profit for the year ended 27 June would be in the range of 63 million pounds to 75 million pounds. That would represent at least a 38% fall compared to the 121 million pounds it made in the 12 months to 29 June 2019.

Financially, the group said it was well-placed to withstand the crisis, and had confirmed that it could access a government COVID Corporate Finance Facility if it needed.

The group's UK activities, regional buses, the GTR rail network in London and south east England and London buses, were benefiting from government support, it said, but said there was uncertainty in the future.

As such, it said it could not provide guidance for the financial year which starts at the end of June.

"In all of our geographies material uncertainties remain around the easing of restrictions and the implications this will have on public transport usage. The quantum and duration of government support measures, particularly in our regional bus business, also remains uncertain," the company said.

(Reporting by Sarah Young; editing by Kate Holton)

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Financials (GBP)
Sales 2020 3 750 M
EBIT 2020 62,6 M
Net income 2020 43,9 M
Finance 2020 173 M
Yield 2020 3,00%
P/E ratio 2020 11,1x
P/E ratio 2021 8,40x
EV / Sales2020 0,08x
EV / Sales2021 0,08x
Capitalization 488 M
Chart THE GO-AHEAD GROUP PLC
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The Go-Ahead Group plc Technical Analysis Chart | GOG | GB0003753778 | MarketScreener
Technical analysis trends THE GO-AHEAD GROUP PLC
Short TermMid-TermLong Term
TrendsNeutralNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 9
Average target price 1 761,25 GBp
Last Close Price 1 135,00 GBp
Spread / Highest target 111%
Spread / Average Target 55,2%
Spread / Lowest Target 8,37%
EPS Revisions
Managers
NameTitle
Clare Margaret Hollingsworth Non-Executive Chairman
Elodie Brian Group Chief Financial Officer & Executive Director
Enrique Fernandez Group Chief Information Officer
Katherine Christina Mary Innes Ker Non-Executive Director
Adrian Ewer Senior Independent Non-Executive Director
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