PUBLIC transport giant Go-Ahead today reported a rise in revenues as it confirmed its highest ever passenger numbers of bus and rail passengers.

The Newcastle company said revenues rose to £2,423.8m from £2,297.0 1in the year to the end of June but pre-tax profits dipped to £94.2m from £97.6m.

The company made its biggest ever investment in its bus fleet of £80m and made five bus acquisitions.

David Brown, Go-Ahead chief executive, said:  “Over the last year, Go-Ahead has made significant progress in building a stronger group and delivering on our strategic goals.

“Most recently, I am really proud of the key role our staff played in helping to deliver a highly successful transport network for the London 2012 Olympic Games.

"Against a challenging economic backdrop, we have continued to drive growth across our bus and rail companies and carried a record number of passengers on our services.

“The year also saw the Group's largest ever investment in our bus fleet and the roll-out of "the key" smartcard across our bus operations outside London.”