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June 10 (Reuters) – Britains Go-Ahead Group said on Thursday its annual outlook had improved as rising vaccination rates pushed passenger volumes for its bus and train services to its highest since the start of the pandemic, pushing the share up 4%.
Without providing figures on its outlook for the year ending July 3, the company said earnings expectations for its London and international bus units have also risen.
Bus and train operators were dealt a major blow last year when multiple lockdowns in England hampered non-essential travel, with people avoiding public transport for fear of contracting the virus. But Britain has opened up as COVID-19 vaccines roll out.
Passenger volume for the regional bus services was currently around 65% to 70% of pre-global health crisis levels, the London-listed carrier said.
Go-Ahead also said it is working on paying a dividend at an appropriate level in 2021.
The company said it had more than 270 million pounds ($381.11 million) in available cash and unused loans by the end of the year.
Now that we are coming out of the pandemic, public transport is playing a big role in the economic recovery; and an equally important role in tackling climate change as we encourage more people to use our services and move away from private cars, said Chief Executive Officer David Brown. ($1 = £0.7085) (Reporting by Pushkala Aripaka in Bengaluru, edited by Sherry Jacob-Phillips and Devika Syamnath)
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